Florian Weimer reported to the mailing list:
http://curl.haxx.se/mail/lib-2014-06/0235.html
It is a case showing that using CURLOPT_LOW_SPEED_LIMIT and CURLOPT_LOW_SPEED_TIME causes a very large number of timeout nodes to end up in the list of timeouts
I posted a patch that hopefully fixes this.
http://curl.haxx.se/mail/lib-2014-08/0196.html
No feedback, assuming it does the right thing and is now merged as commit cacdc27f52ba. Case closed.