Attack speed

Attack speed in Terraria is handled like movement speed: additive bonuses except the cap is at 4 times original speed. However use time, or the time it takes to swing (attack) or use an item, is reduced instead of increased. Use time of 30 is slower than use time of 10. See weapon list for an organized view of this.

Max increased attack speed (for melee) is +73% using Hallowed armor set (29), Feral Claws (12), Well Fed (5), Tipsy (10), Werewolf (buff) (5), and total of 5 accessories reforged to Violent (20).

Even though most tools are also melee weapons, increasing "melee attack speed" via accessories and armors will not increase mining speed; however, the set bonus from Mining armor will increase mining speed. Testing indicates that the "+% speed" from the "Common" category of weapon reforges on pickaxes do increase the mining speed of the pickaxe, so if you have a surplus of resources it is a good idea to keep re-crafting your pick until you make one with a "+% speed" bonus on it. Similar testing still needs to be done for axes and hammers.