Vulcans might have found the ring-shaped warp engine superior early on, but perhaps it could never be developed to go past warp seven? They would be culturally stuck with it, though - much like today's navies are stuck with boat-shaped ships, even though more efficient alternatives exist.
Modern warships are a gigantic compromise of conflicting requirements, most of which are volume intensive. In other words, the larger the volume of a hull, the better the warship. This is in contrast to battleships, where weight (displacement) was the critical factor due to heavy armor requirements. A convention hull is an excellent shape for maximizing volume. The US Navy and its counterparts are not "bound by culture," that's absurd. They are consevative, they have to be given that poor experiments get people killed, but when they have unique requirements they make unique ships. Pegasus Class hydrofoils, LCAC's, and the Littoral Combat Ship come to mind as examples where speed was an overriding factor.