Someone over at /. pointed out that
www.usb.org doesn't really phrase it the way this article does.
"Old USB 1.1 devices aren't renamed. New devices that support the USB 2.0 signalling (even if they do not support the 480Mb/s speed,) are USB 2.0 devices. 2Mb/s is 'Low Speed', 12Mb/s (the USB 1.1 maximum) is 'Full Speed', and 480Mb/s is 'High Speed'."
by Anonymous Freak (16973)
Why they decided to do it low, full, high instead of low, high, full I'll never know.