Yes and no. For most things—roasted veggies, meats, cookies, and frozen foods—the time drops like a rock. A tray of broccoli that normally takes 20 minutes to get those crispy edges? Try 12 to 14 minutes.
But for delicate stuff like custards, soufflés, or a giant lasagna, you might not save as much time because the air circulation can be too aggressive. The rule of thumb: reduce your time by about 25% and lower the temperature by 25°F to avoid burning the outside before the inside is done.
The cookie test
Remember that batch of chocolate chip cookies that always comes out with a raw center but a crispy bottom? Convection fixes that. The hot air whips around and bakes the whole cookie evenly in less time.
I once baked two trays side by side: one in a regular oven for 11 minutes, one in a convection for 9 minutes. The convection batch was golden, chewy, and perfect, while the other was still doughy in the middle. Guess which ones disappeared first?