Regulating the speed of a two-phase switched reluctance machine (TPSRM) rotor includes selecting either a motoring mode or braking mode of operation for the TPSRM, regulating the rotor speed, when the motoring mode is selected, using a control signal cooperatively produced by a speed control feedback loop and a current control feedback loop; and regulating the rotor speed, when the braking mode is selected, using a control signal produced by the current control feedback loop without the cooperation of the speed control feedback loop. The speed control feedback loop uses an established speed control signal and a signal indicative of the rotor's speed to dynamically adjust a first parameter governing the control signal. The current control feedback loop uses an established current control signal and a signal indicative of the current flowing through a stator winding of the TPSRM to dynamically adjust a second parameter governing the control signal.