Selective multigrid has higher order of interpolation and prolongation operators in comparison with standard aggregative multigrid. These properties provide better convergence rate for selective multigrid but come at price of a longer setup phase. A question what solver is faster can't be answered without direct comparison of both solvers under a specified convergence criteria.
The selective multigrid has been implemented following J.W.Ruge and K.Stueben's works. The standard coarsening scheme was used and the direct and standard interpolations were tried. The standard interpolation is more exact but more expensive in time and memory.
The convergence and running time of the selective multigrid were compared with that of the Weiss et al's aggregative multigrid. Both solvers were applied to a test problem based on a diffusivity equation and to a few matrices built from a pressure equation for some CFD problems. Their performance is analyzed based on reduction of residuals by one and six order of magnitude.

References:

Stueben K., An Introduction to Algebraic Multigrid, pp. 413-532 in Trottenberg U., Oosterlee C.W., and Schuller A., Multigrid, Academic Press, 2001.
Weiss J.M, Maruszewski J.P, Smith W.A., Implicit Solution of the Navier-Stokes Equations on Unstructured Meshes, 13th AIAA CFD Conference, June 1997, Paper 97-2103