My son's is definitely low speed... and with no provision for a side handle I imagine more than one wrist was sprained or broken if the user encountered any resistance.
Were you able to find anything out about this drill, such as the production year or model number? My son just picked a similar one up at a thrift store and we were looking around for info. It's missing the plate at the top of the handle, which I assume would have the model number. It's a 3/8"...