A reaming bit designed to operate with low torque fluctuation when driven with a turbine at speeds in the order of 300-600 RPM and above features a profile that is arcuate from the gauge dimension to the nose area or alternatively has a blunt straight taper section but with a ratio of profile length (PL) to bit size (BS) of under 0.75. The blades extend into a concave cone and the cutting structure continues along the blades towards the center. The blades have a step near the gauge section to increase the exposure of the blade cutting structure. An array of protrusions are disposed parallel to and behind the cutting structure to increase high speed stability and adjacent the blade step transition to protect outer casing on run in.