Exploring gives a chance to hitting EP ("evil Presence") and of course to also hit the main objectives of the game.. spinning in one spot stops you from hitting any EP and will stop you from all but 1 objective as far as i know.. and thats bits n pieces, which shows up anywhere...
generally spinning or what used to be called a "black run" is faster as you dont take the risk of hitting EP and slowing you down.. the only drawback to this speed climb is that the drops from EP's dont happen.