You pair the device to a base station once to create an entity but you don't have to if you know the mac of your phone. So there's no pairing involved in the tracking.

You can use the HA app to create a beacon on your phone when you're on your home WiFi and not pair anything, just plumb the id into HA.

The speed is quite fast but there is still a lot of false positives. I've sat and watched mine and my wife's phones just pinging around the house, but if you add some "for X seconds" to your automations it becomes much more stable.

I've got 3 android phones and an iPhone tracked at present