No, Banks did the math, it's your recollection of 1,200 c that's off; Culture ships measure their speeds in multiple kilolights (1000 c), so 1.2 Kc is way too low. Killer-class ROUs built near the beginning of the Idiran-Culture war have a cruising speed of ~87 Kc, while it's established in Excession that modern ROUs have a cruising speed of 144 Kc and a sprint speed of 221 Kc, with standard GSVs having a cruising speed around 128 Kc. A top speed of 100 Kc for a ROU built near the end of the Idiran-Culture war like the Limiting Factor sounds about right.