Specific impulse (ISP) measures the efficiency of rocket engines, defined as thrust divided by the propellant mass flow rate and gravity. Higher ISP indicates greater efficiency, allowing rockets to achieve faster speeds, though it does not solely determine top speed, as fuel ratio also plays a crucial role. Chemical rockets have an ISP of around 450, effective for launch but inefficient for deep space travel, while advanced concepts like nuclear pulse rockets and antimatter engines have much higher ISP values. Actual ISP is influenced by factors such as ambient pressure and nozzle design, differing from theoretical ISP values. The discussion also touches on interest in the X-33 project and its scramjet engine design.