Maybe the biggest issue with placing too much value on running times is there is so much variance in technique. We see a lot of bad technique that results in slower times than what someone might be capable of. For sure instincts count in the shorter distances. Also the problem with H1 times is that it is somewhat dependent on the type of swing a hitter has. SB times can also be confusing. You can time the runner, but as far as being a good base stealer it involves reading the pitcher. So you might run a fast time, but you took off later than someone else. This is why we like to get as many times as possible.
Here is a drill that can really help in the shorter distances. Good thing is you can work on a lot more short distance sprints than you can practice 60s. Use a tape recorder of some fashion. Record some music or other sounds. Have some lead up sound or music that gets you to GO. Take off on GO and recognize where you're at the end. We normally use 2 seconds. Place something, like tape at the distance you cover in the allotted time. Then simply attempt to increase the distance you cover during that recorded time. It does help if dad or someone is helping to spot finishing distance, but once you have your distance marked you just try to beat it. Hope I explained well enough. Even without perfect technique you will find that you are running farther in the same amount of time.
When you can increase the distance you cover in a certain amount of time... You will absolutely know that you are running faster. This is just a fairly easy way to work on it and get good results.