There are several advantages to deflating/inflating two tires at a time with a balance/transfer hose than just the speed.
1. First of all it is a balance hose. You always connect it up to one axle at a time (the right and left tire of one axle). It is more critical to have the same air pressure across an axle than between the front and rear. Just by connecting it to each tire across the axle, with the valve closed, it will instantly balance the pressure in each tire assuring that you have the same tire diameter across the axle and will not be spinning the side and spider gears in the differential when traveling in a straight line.
2. It allows you to quickly deflate both tires on each side of the axle (Lt & Rt tire) and assure they are balanced. The inline gauge allows you to easily monitor the pressure.
3. It also allows you to quickly air up the two tires on each axle and automatically keep the pressure balanced.
4. Lastly, it also serves as a transfer hose. With the port valve closed, you can quickly transfer air from one tire to another. This can be convenient if you break a bead on the trail. Instead of breaking out the compressor, you can just quickly transfer air from the spare to the flat tire, and later re-inflate the spare tire at a more convenient time.