Well-yeah-it might start, but will it last as long as a Briggs, or a Tecumseh? From what i've read lately, you are taking a chance on the Chink engines.
As for walking speeds, just advance the throttle handle-if it has one-and it should speed up. Most walk-behind powered mowers do have 2-wheels pushing, or pulling, it along.
A lot of the chinese made engines, from what i have read, are not noted for their longevity.
But, join the crowd of chinese mower testers! Take a chance!

What have you read lately? Is Toro no longer a reputable brand or company for offering mowers with engines that we are taking chances on?
If Toro is no longer trustworthy, we probably shouldn't buy any mower from them.

Why don't you kick it up a notch and go for the 20330 model. It has a Briggs & stratton motor and is a rear drive self propel. The self propel looks like the same model that was on the late great lawn Boy 10323. I have one(an LB) and the self propel is great. All this for another $20 ($299 list)over the 20323.

In my opinion the Toro Super Recycler would be a better buy in the long run. Although it will cost a bit more than the standard Toro models sold at box stores, it is much more substantial in several areas including the engine. It will last for decades if maintained. A box store mower will likely need replacement in under 10 years.

The 'Variable-Speed' drive is a manual-control version of 'Personal Pace' and my favorite mower drive. The solid rear axle is driven, which propels both drive wheels. The axle ends most likely have the typical enclosed ratchet that allows pulling back and easier turning (when the drive bail is released). Normally you hold the drive bail all the way to the handle, but you can 'feather' it for slower speed around obstacles. I would not expect any hand throttle or choke on this model which most likely would be primer-start or automatic choke. I believe this would be a red-painted version of the Lawn-Boy 10641, the same size and features but may not be available anymore as they are phasing out the green mowers.
I haven't heard any bad news about the Chinese engines. Probably it will do fine with proper care. At the price, I might try to get a B&S engine if possible, but this mower design works very well, being an offshoot of the LB 'Insight' hi-dome deck design.

Here is a link that might be useful: LB 10641

Toro recalls some mowers and snowblowers.

Here is your answer.
http://news.yahoo.com/s/nm/20110426/us_nm/us_recalls_toro
The Consumer Product Safety Commission and Health Canada said in a joint statement that the carburetors on about 23,000 Toro Power Clear Snowblowers and 6,200 Toro 20" Recycler Mowers may develop fuel leaks and can ignite when exposed to an ignition source, posing a fire or burn hazard to consumers.
There have been about 500 reports of carburetor leaks. However, none of those incidents involved fire or injury, the CPSC said.
The recall includes Toro Snowblowers with model numbers 38588 and 38589 and Recycler Mower with model number 20323.

2nd on buying the Briggs. In my mind, the no name Chondas (including Kohler XT) pale in comparison to GC Honda or Briggs engines.

I was under the impression that all the Briggs WB engines were made at their engine plant in China?I was considering a Toro #20332 but it is probably the same engine as the one with the Recall(Carb Leak)

I looked at one today - the engine looks like a clone of the Honda commercial GSX series OHV engines. I doubt if it is a commercial-grade engine. Hey, if you can find a LB 10641 for the same price, you at least get a B&S. I don't know if these are made in China. I wouldn't be too concerned about the recall - all engine makers get these from time-to-time.

Thanks for the thoughts. We have a thrift store nearby that almost always has a sweet Toro or Honda that is 20-25 years old or so, I can pick up a mower from there that is much better than *most* of the new ones for sale. The only reason I look at the new mowers is to recommend a new mower to friends and neighbors that don't feel confident in buying a used one, or think they need a new one for some reason. My 80+ year old neighbor that I was recently researching for jumped for the 20332. He didn't want a BBC or Electric start. It appears to be a great machine.

It's interesting, it looks like Toro just overhauled their website (at least they did for lawn mowers). I also noticed that the model that began this thread looks different already. Just a week ago, it had 2 levers. Now it has one lever and a kill switch button. but this doesn't make sense. They wouldn't leave the engine running with the blade spinning! Is this a European model or something? Even the manuals for this mower show two levers. If this is a picture of the non-self propelled mower, why would it have a lever and a button switch?

http://www.toro.com/en-us/Homeowner/Mowers/Walk-Power-Mowers/Pages/Model.aspx?pid=20314