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1.
No extra fluff or "baggage" that is irrelevant to the person, product, or idea being described. Basically, "very efficient" or "lean and mean".
"De Niro's crew in HEAT was high speed, low drag!"
"Company XYZ process is high speed, low drag..."
by DJMushOne February 08, 2007
 
2.
Adj.

1. A high quality, efficient way to do something, performed with exceptional speed, but still simple and streamlined.
e.g "Let me draw you a high-speed, low-drag picture of America... not to scale."
by IaiaIsGod February 19, 2012