I would say they are both pretty close, but I did see those training videos of pacquiao in another thread and his hand speed up close with no gloves on is...well scary.
Floyd is very fast and he does make very good use of distance and timing which does make him seem even faster. Pacquiao is faster in my opinion, you could not even see his hands, just his shoulders moving.
Found this, crazy DBZ-like handspeed.
http://www.youtube.com/watch?v=qKPDeMXiJHc&NR=1
$12,700 on Pac? You would probably only get about $6,000 if Pac won so you would still be in the hole, unless you bet by KO or something. Just saying...