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Tim, how old is your winch. I also have a MM12000 that I did some trading for.
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I bought it in October 2003 and installed it in May, 2004.
It's a piece of crap. I broke the clutch shifting lever clean off and the case once as well.
IF you do use it, make sure your bumper will take a warn winch later when you throw it away. My bumper's design is based on the compact design of the E12000 which is much smaller in height than any Warn or Ramsey (thus the issues with the small drum and support rods too close to cable.
I wouldn't waste the time, but since you didn't put out any cash for it, give it a shot. Do not put it in a hidden mount--the cable only has to wrap one extra layer before it breaks the case.
When it works it is not slow. The specs are comparable to any Warn M12000. It's slow compared to the high speed 9500s and the 8274, but EVERY 12000 lb winch is slower than a 9500. This winch is no slower than any other....just a piece of crap China overly compact design.