One problem with Turing machines is that the universal Turing machine $U$ can simulate any machine $M$ but with a $\log$ slowdown, meaning $U(\#M,x)$ runs in time $O(T(n)log(n) + O(n))$, where $n=|\#M|+ |x|$, $\#M$ is a representation of $M$, and function $T$ is the running time of $M$. This $\log$ factor can get quite annoying sometime because you have to fiddle around it in definition like $K^t$ complexity (time bounded kolmogorov complexity), nowadays some paper just consider the $RAM$ model or change around the definition of $K^t$ (for instance considering actual steps in the machine $M$ instead of simulation steps by $U$) to cater to their need. They also often spend a paragraph saying how their paper shouldn't be rejected because they sightly changed around the definitions.
My question then is : what are models of computation with only a constant slowdown factor ? Preferably realistic (in the sense explained below). I know the $RAM$ model but it jumps around registers at infinite speed. Then there is the boolean circuit model which I believe would have a constant slowdown (although simulation of a circuit by a circuit is not something I think I've ever come accross) but it is non uniform. As far as i'm concerned the Turing machine model is realistic in the sense that it can be implemented in real life without breaking the laws of physics (the infinite tape can be replaced by an ever-expanding one)
Second follow-up question : why do we care about Turing machine ? Why not just do everything in $RAM$ and say goodbye to those pesky $\log$ factors. I suspect it is because of historical developments but I may be wrong.
Third follow-up question : would people be interested in a realistic computation model with only a constant slowdown (I think that I can get that with a slight modification of the definition of Turing machines)