How can you tell? What did you test?
Honestly the speed of the TStringGrid is "OK". But the TMemo displays the data much faster. I'd prefer it if possible.
The cellPadding is two pixels to the left and right each. But why don't you do custom-painting (event OnDrawCell), this way you can avoid the cellPadding. The cell width itself is only limited by 0. But believe me: characters squeezed into such tight cells look terrible.
I have another StringGrid that displays the raw text data and in this particular case THAT looks terrible. The grid has padding in each cell that I'd like to remove or shrink so the characters are much closer together. I use a monospace font so the font size is predictable.
I'd be willing to keep the grid if I could reduce the padding. Eventually though I'd like to use a component that offers much faster rendering.
BTW, a hex editor ready to be clicked onto the form is contained the the KControls package (see OPM). I used it in several projects
I've experience with Pascal in general. But I'm pretty new to Lazarus and the advanced manipulation of objects you're talking about I've yet to entirely grasp. i.e. I don't know what "OPM" is or where the KControls package is.

I've attached a sample of what I have already.
Jeff