See the link below. Your assertion is correct - Scoring at 116 PPG, is the highest it has been since 1970, and offensive efficiency is the best it has has ever been (it's only tracked back to 1974)
Pace of play is about the same as it has been the last 6 years. Pace is still a tad below where it was in the 80's and well off where it was in the 70's (started to be measured in 1974)... and probably far off where it was in the 60's although there is no measure for that.
Regarding pace and overall scoring it was at its peak in the 1960's. In the 1962 season teams averaged 119 PPG, despite being much more inefficient than today. only shooting 43% on their FG attempts compared to 48% today. And there was no threes. Pace was not calculated then, but just looking at the numbers my guess is it had to be 125-130 possessions a game, compared to the 100 today.
They placed at an insane pace back then.
NBA League Averages - Per Game
www.basketball-reference.com