Speed could not have asked for a bigger challenge in his first competitive match in charge as rivals England visit the Millennium Stadium for a sell-out Euro 2012 qualifier.
As group favourites and with manager Fabio Capello the subject of continuing criticism, England are under pressure to perform.
The mood in the Welsh camp is different, with Speed inheriting a seemingly doomed qualification campaign and very much focusing on the future.
After three defeats, Wales have little to lose, but there are aspects of the English preparation Speed does envy.
The former Wales captain, whose first match was a 3-0 drubbing by the Republic of Ireland last month, said: "There is always pressure on England.
"Every England player, whoever they are playing against, is always under pressure.
"I want to get to the stage where there is pressure on us as well.
"If that is the case, we are doing okay.
"As a player, if asked would I like that pressure or not - I'd rather have it there.
"It means it is a big, important game and you are privileged to be playing. I'd rather it was there than wasn't."
Speed's preparations suffered a major setback when star player Gareth Bale was forced to withdraw with a hamstring injury.
It was revealed the Tottenham winger had not trained all week due to the problem, which Wales insist he was carrying when he reported for duty.
That conflicts with the opinion of Spurs boss Harry Redknapp, who has insisted the 21-year-old was fine after playing 90 minutes against West Ham last Saturday.
Both managers, however, have refused to apportion blame and Speed has quickly downplayed suggestions of a rift over the matter.
The 41-year-old said: "I haven't spoken to Harry but we have swapped telephone messages.
"Everything is fine. It was a misunderstanding and that's been nipped in the bud. It's fine."
England keeper Joe Hart has admitted Bale's absence is good news.
There has been understandable dismay in Welsh ranks, whilst England, although not revelling in the misfortune of a fellow professional, are hardly crying either.
"The news about Bale is good for us," Hart told FATV.
"He is one of their best players.
"No one wants to see him getting hurt or injured of course and I am sure they will have someone ready to come in a fill his shoes. But they are pretty big shoes to fill."
West Brom goalkeeper Scott Carson has been called into the squad after Ben Foster was ruled out with a throat infection.
Foster was struggling with the complaint yesterday but England's medical staff decided to leave it overnight before making a final decision on his fitness.
However, there has been no improvement and Foster has now been released back to Birmingham.
Source: DSG
