Gemma,
memory will only affect the run time if not enough memory is available. Then the system will start swapping to the hard disk and the speed will reduce extremely. You can check for the approximate memory demand for the simulation using Info - Storage demand in FEFLOW.
Processor clock speed has an almost linear influence, i.e., the faster the processors, the faster the simulation. When writing results files for models with many but very quickly computed time steps also the disk speed may have an influence. For larger models this is usually negligible. To improve performance, I recommend to not render the results on screen for each time step as the visual output will slow down the simulation, too.