The phrase High Speed is a hangover from the USB1.0 spec to USB 2.0 spec. Provided the hub works at 480 Mb/s then it's working at the maximum speed USB operates.
One thing to bear in mind is that 480Mb/s is the fastest the the pipeline can handle. It's the total maximum that will go through the hub, so three drives will each take a part of that figure if operating at the same time.
Depending on how many USB ports you have on the Mac it may be worthwhile connecting the drives directly to the USB outputs on the Mac if you need speed. . However if some of the drives are used for backup and you don't need the speed then the hub will be fine. The printer operating via the hub should be fine.
Any good reputable Hub such a Belkin or similar should be fine
I find the Firewire connections are much faster than USB and they are designed to be cascaded so you don't need a hub. However Firewire drives tend to be more expensive than USB ones.