I'm a bit late on this, but I have some input that I think might be useful.
I have tested about 6 different 10" continuous rim diamond blades (price range between $10 to over $300). There are a lot of variables to cutting speed, including the rotations per minute of the saw, the lubricant used, the load (how hard you push) and the saw blade. My saw has a fixed rotation speed and the lubricant is water, so the main variables I can control are the blade and the load. Note that there is an optimal load for each situation, and exceeding that will create more heat than the coolant is able to dissipate, causing your blade to quickly deteriorate. I suspect this had something to do with your blade wearing out in only 16 hours. A standard blade can last hundreds of hours under normal cutting conditions.
So, what options are there for speeding up the cut? I have found that the mesh size of the diamonds makes a very significant difference. Larger mesh generally cuts faster, but with the trade-off of having a rougher finish and higher likelihood of chipping. Blades specially made for cutting glass are usually made with finer mesh diamonds to reduce chipping. The good news is that you can get large mesh ceramic tile cutting blades for a fraction of the price of glass blades, so it may be well worth your time and money to test one out. If you are fusing the glass again after cutting, then the rough finish and a modest amount of chipping at the edges might not make any difference for you, though I do recommend spraying or scrubbing the the cut surface before it has a chance to dry - a rougher surface carries more glass scum from cutting.
If you or anyone wants to give one of these blades a try, I have tried the MK Diamond MK-99 continuous rim wet blade:http://www.csnstores.com/asp/superbrows ... 76_2879216
Not the best blade for delicate work but this blade cuts faster than any other I've tried, and is also cheaper.
When trying a cheaper blade, I suggest trying it first on a test piece that is representative of what you are going to cut. Check that there is not too much vibration, which could mean that your blade is out of flat or out of round (assuming that your saw harbor and flange are not) - in which case you'll probably want to exchange the blade. I've never had this experience but someone on amazon.com seems to have gotten a bad one of the blades I mentioned above. Make sure you are comfortable with the amount of chippage before you use it on your project. Chippage usually occurs most at the end of the cut, where the thinnest remaining part has no support and breaks off. There are a lot of other factors involved, besides the blade, in minimizing chipping. If anyone wants my input on that feel free to ask.
A couple thoughts about coolant. If you are cutting very thick glass, the cutting surface area where the blade and glass touch is going to be very large. This creates more heat as the blade spends more time rubbing against the glass and less time cooling off. Additionally, the coolant has a harder time getting all the way into and covering the entire cutting surface. This means less lubrication, more friction, and more heat. Under these circumstances, it's important to do everything you can to make sure you're getting adequate coolant flow into the cut and covering the entire cutting surface. Good coolant flow will allow you to use a bit more load and thus could speed up cutting.
Please let me know if anyone finds this information useful. I would be very interested to hear the experiences of others.