Those min and max values are just for the controller analog axis. For example, the brakes on my mouse controller originally had min=0 and max=1000, which means the brakes start working with the cursor in the middle of the screen and reach full power with the cursor at the bottom. I changed that to min=100 and max=800, so there's some deadzone in the middle and bottom.
I'm not sure if that speedlimiter control ever did anything. If it does, it's probably an on/off switch, so the axis wouldn't be of any use.