Given that the railway from Exeter to Penzance is so twisty bendy curvy (whatever it should be called), and that a true high speed line is quite unlikely at the moment, how feasible would having proper Intercity titling trains running on this line (I'm thinking ICE TD, not Voyager) and how much time would be saved?
Switchback is the term I've used for a long time regarding the twisty bendy curvey etc.
Regarding faster services, there are two ways to look at this question.
Do people from the far South West want to get beyond the region faster - no not really - there is a great sleeper service that means you can have a day out to London by leaving home for the sleeper at a resonable time, and arrive at Paddington fairly refreshed and have a decent breakfast at the Hilton before heading into the smoke to do the days activities, shopping, business, touristy things etc. Catch a concert/show in the evening - see the things that never make it down to the village hall until the amateurs do it in 25 years time, and make your way back to Paddington and catch the sleeper home. No need for ultra high priced hotel rooms in the capital.
Do people from the smoke really want to get down to the far South West faster - no - in my experience the trains are full of people returning home from London - and overwhelmingly most get off the Penzance services at Exeter/Newton Abbott, the rest of us enjoy the trip south of Dartmoor, to Plymouth thankful they have gone, and at Plymouth the trains fill up with the Cornish who rather than spend all their money going to London, use the cheap day return to do their shopping in Devon (spits on the floor) and give a cheer (mental or not) when we cross back over the Tamar!
Airlines are now useless for faster travel. Plymouth Airport is closed. No flights from Exeter to London, and we lost flights from Newquay to London last year for good it seems. Where I come from a slowish relaxed train journey from home to London, preferably by sleeper is far better than a 45 mile journey from home, west of St.Ives to Newquay airport, getting there the required time before take off and a second journey from Gatwick to Central London.
What is needed though is a better faster more comfortable run from Exeter eastwards, and to Bristol and the Midlands and beyond - in the HS-2 debate the excitement is about connecting this 'Y' to London - Wonderful for the Midlands, Manchester and Leeds, but the line and connection to the West, South and South West to the Midlands and thence to the remainder of the nation will become a backwater and will wither away I fear.
Get the connections to Exeter right and then the slower journer on the switchback west of the Exe will be all the more worth while, and I and many others can still enjoy my sleeper service from Penzance to Paddington!