speed reduction is FINE. just don't go little sprocket to big sprocket on the rear axle (IE 12 tooth motor side to 60 tooth axle side) as that is what the reduction box did for you.
I'd look for a part number, make sure they are the same, or at least the same ratio when you look up that part number, I would assume they are.
assuming its a standard 8.7 reducer, if you have 11" tall tires, if you use a 1 to 1 ratio on your chain or pulleys, you'll get about 14-15 mph at 3600 rpm (usual max)
so you may want to use use taller tires. a 16" tire (small riding mower rear tire) is about 21-22 mph and is about the same as 1.5 to 1 change in ratio (within 1 mph), 22" (cheap offroad balloon tire) will be 29-30 mph same as 2 to 1 ratio.
this is "raw" ratio, I'd knock off 2-3 mph for load and slippage and tire squat, if you can roll with the tires you have, gear ratio change will loose you less speed that tires (less rolling load and mass/inertia) so smaller tires with the same top speed will also have a slightly better acceleration. hope that helps.