Yes, as you don't know the exact RPM of the drill all you will know is that the speedo needle rises, the miles click off and it does so quietly. My speedo does 24 MPH at full speed of my cordless drill.
I had to test mine because the original was making a really bad squeal sound from time to time. I pulled it out and ran the drill on it for a while to try to make it do it out of the car, which I did finally. It was the speedo and I had to get a rebuilt one.