IMHO, it's a "production" wheel in that it should spin fast and fine, but it's not a Canadian Production Wheel since it has the screw tension instead of the tilt tension. But it should spin fast because of the size of the drive wheel so it could be called a "production" wheel if you use the term "production" as a type and not a name. But, that's just a mere quibble, it's a lovely looking wheel whatever it's called.
The characteristics of a production wheel is the huge drive wheel so it can drive the bobbin really fast. You'll have a high ratio of lots of flyer spins to each turn of the big drive wheel. A production wheel will spin fiber appreciably faster than most modern wheels. The Canadian Production Wheels specifically have a tilt tension. You push the Mother Of All forward to tighten the tension and tilt it back to loosen it. They are generally (perhaps always, but I don't know for sure) a double drive band (well, actually it's one drive band going around twice) so there's no scotch tension.