Handling pace is completely different from generating pace. To generate pace, (say on serve), requires a long stroke. To handle pace, do the opposite. Make your stroke more compact. If you have to return a big serve, use very little backswing, then you'll have time, and because the ball is coming at you at a fast rate, you don't need much racquet head speed. Same thing with volleys. The ball is in the air, it hasn't hit the ground, (which slows it down alot), so you 'punch' the volley. If you try to swing at it, your backswing will make you late.
In this way I think that handling pace is easier than generating it. I love playing big hitters. They take all the risks, while I just block their shots back. They lose and then they start a thread in here complaining about losing to a pusher.