I also noticed this today, and it seems that for some reason the frame rate of animated GIFs is limited to 10 frames per second, or a minimum delay of 100msec per frame. This animation should loop every second:
http://www.dr-lex.be/tmp/Rotation1Sec.gif
In Firefox it behaves correctly, but if you time it in Safari, you'll see that it takes 5 seconds per loop, because it has 50 frames.
By the way, QuickTime Player can also play GIF animations and it plays them at the correct speed.
It appears this bug is not in Safari itself, but somewhere deeper in some framework. The bug ID is 5815212.