REG inputs are considered high speed inputs cause they can sample the change of state and do something very fast.
A typical example is on a servo drive where a home sensor or registration sensor is used to capture the encoder position at that moment of time.
These times are typically in the microseconds.
A high speed output is typically used for high speed pulse signals or to signal something with very little delay. Less than 1ms would be ideal.
A brief answer but enough to get you thinking.