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But yeah, Like larry said, make sure your trains are not running half full. As a general rule of thumb I would suggest using the fastest, but weakest and lightest trains possible. The power of a locomotive is the major determining factor in it's running costs. And the power is only needed to compensate for the weight. So if you can get a light locomotive with light carriages you can reduce the amount of power needed to accelerate quickly.
Multiple Unit trains (trains that have both power and capacity built into the same unit) have their running costs determined largely by the power, but also the capacity and the top speed. Unlike locomotives which are almost exclusively determined by power. But the same principle still applies. You want ones that are not excessively heavy relative to their capacity. Other wise they are too slow or they have excessive power to compensate for their weight which makes them exceedingly expensive to run. The Speed Dance Express is a great example of this. It is super heavy relative to its capacity, making it a very hard train to make money with as it has a huge amount of expensive power to compensate for its weight.
As an example, if using the American vehicle set, if you were to use an EMD AEM-7 locomotive combined with 5 Westrail Westfleet passenger carriages, you would have a train with a speed of 200kph, capacity of 105, weight of about 360t and a running cost of less than $3.5mil. By comparison the Speedance Express has a speed of 240kph, capacity of 101, weight of 565t and a running cost of $6mil. Even though the Speedance Express has a slightly higher ticket price per passenger due to the slightly faster speed, the first train consist would without question be far more profitable.
After reading your post though, I became curious, and decided to do some testing about just how the two trains compare in more detail. But on a more realistic (realistic in terms of the games scale) distanced route of 11km.
After allowing each train to run a full round trip to get a more accurate frequency number I did some maths. For the record the frequency for the EMD was 8min 47 seconds, while the Speedance was 7min 50 seconds. For the test the trains ran empty so the unloading and loading times are not being accounted for.
https://steamcommunity.com/sharedfiles/filedetails/?id=2361218019
EMD AEM-7 - Easy - Running cost per minute = $285,205, Revenue per minute = $799,260, Profit per minute = $514,055
Speedance Express - Easy - Running cost per minute = $500,548, Revenue per minute = $999,702, Profit per minute = $499,154
EMD AEM-7 - hard - Profit per minute = $114,425
Speedance Express - hard - Profit per minute = -$697
So over an 11km distance, regardless of the difficulty, the EMD AEM-7 would be more profitable. And on hard difficulty the Speedance would be losing money. This test of course assumes the trains are running full all the time. Just some interesting food for thought.