I heard from somewhere that the faster you are, the better chance you have at landing a hit. I'm pretty sure that I'm wrong but is this true?
No this is not true, however you may mixing this up with the fact that in generation I the speed stat effected Critical hit chance. For regular moves the Chance of a Critical was Base-speed/512 and High critical moves Base speed/64 (But the odds max out at a 99.6% chance).
I hope I helped. :)
No it does not you may of misheard 'the faster you are the faster you hit' or something along them lines.
No its not true simple as that