It really is amazing how pathetic the quality of most Everlast products is today. If you are new to boxing and looking for quality equipment, try Cleto Reyes. From my experience, Everlast manufactures stuff with the kind of consumer in mind that will hang a heavy bag in his garage for decoration purposes only. I'm sure they have some professional line, but that's not what you find on Amazon or in retail store near you.
Addressing the quality of this speedbag swivel specifically, it's ok, mine arrived defective and I had to fix it myself, but it seems to be working now.
3 stars

Works well. Much faster than the "cheap" metal swivel that has only the hook. If you don't have a wealth of speed-bag experience, be prepared to "re-learn" when you upgrade to this swivel. 4 stars

Great swivel action, tough construction, easy to remove for adding air to your speed bag. Worth the price. 5 stars

It's the right tool for the job. The bag swings correctly and totally improves your experience. Note: I had to re-drill the holes on my platform to accomodate the pattern of this swivel. The end result was unquestionably worth the effort. If you are using a cheap ball and hook swivel, you will never get the speed and tight bounce pattern you are seeking. 5 stars

highly recommend this vs the traditional hook assembly. the only problem is getting the "latch" off to hook up the speed bag. you will need a link wrench or a needle nose pliers. this does not come with instructions how to do this, go on to the web and you will see many entries on how to do this. other than that one issue it is a very nice complement to traditional hooks. 5 stars