I have a slightly different take on high-speed vs. low-speed for bottom-bashing.
First of all, I don't use egg-beaters for bottom bashing, so for me the debate is purely between overhead reels. Also, I only use braid, so I don't have to worry about winding mono under too much pressure. And lastly I use good size reels that comfortably double-up as winches as far as retrieving a bait (no fish) is concerned.
Given all that, I don't pump at all (no fish, remember, just the sinker weight), I just lower the rod tip as much as possible and go for a steady retrieve. I find that high-speed reels are a real time-saver when you've just lost your bait and want to put one back in the same drift.
Then when fighting a good size fish, I always pump and never use the reel as a winch, so low-speed vs. high-speed is irrelevant for me.
Now I stress that this is not a universal opinion, it's based on my experience with bottom-bashing for perlies, snapper, cobes, samson, etc in up to 100m of water in SE Queensland. I don't get a 10Kg coral trout every drop
![Sad](http://www.ausfish.com.au/yabbfiles/Templates/Forum/default/Original%20Smilies/sad.gif)
, so I don't pretend that this is valid for your situation in NQ, but I just thought I'd give my two cents.