Spectacle is characterized as being more passionate about technology than the underlying theory. Speculation, on the other hand, is tends towards criticism and reflection rather than rapid adoption of new technologies. If technology wasn't advancing so fast, the academia would have caught up, keeping a thorough record of things, putting things in perspective, and constructing relevant theories. But currently, the two fields operate at a different pace with contrasting ethos.
I think Ken Goldberg & Joseph Santarromana's Telegarden (1995) is a great example that marries speculation and spectacle. By incorporating a new and popular technology into a very familiar discourse, they correctly exhibit the current state of technology. More importantly, they speculatively bring the technology into an everyday situation, and engage the audience in contemplating the future. It's full of theory. Below is how I see the work positioned between Warburton's dichotomies:
acceleration-------------/----------------drag
visibility----------------/-----------invisibility
surplus--------------/------------------waste
commerce----------------------/----------art
function------------------/---------disfunction