I'm generally of the view that the more freedom in trading the better, but there is a concern on these ultra-high-speed trades that it ultimately prioritizes only certain blessed traders, those with expensive equipment, geographical proximity, and approved partnerships.

I've thought that one fairly neutral fix would be to add a random delay to the execution time of each trade. It could be very small... like between 0 to 1 seconds. Just enough to negate the 'all or nothing' prioritizing of a slightly faster connection.