ive no idea why you would record in double time, i thiknk the reasoning behind it, is because you are (in theory) increasing the quality, because a record has a variable quality depending on the speed, so a faster speed would mean an increased quality (it varies depending on the vinyl) but in theory you could improve this dramatically above normal.

only in theory though, as vinyl is a real world analogue material, and as the speed of the needle increases, the needle is not going to follow the grooves as accuratley, bass definition will be alot less, even at a small increase in RPM, so double speed will destroy the original's dynamics as far as us engineers are concerned.

an article ive dug up explains this in a bit more detail plus some other reasons that explain this is not a good way of recording at only 33 and a 1/3 percent higher speed, let alone double.