You're Correct!

Increasing club head speed can be a problematic area for many golfers because many try and make the increase of speed with the wrong parts of their bodies such as the arms, which ironically slows down their swing speed, prevents any further distance to be created and actually causes more directional issues.

For maximum swing speed with the driver, the swing length should be full with the shoulders rotated 90 degrees, the hips rotated 45 degrees, with the left arm straight and high at the top of the swing to extend the width and arc as much as possible. This back swing creates a lot of energy and build up of power at the top of the swing. This is the easy bit, you now need to come back to the ball using the most powerful aspect of the swing; the hips.

The hips need to initiate the down swing so they can transfer the weight to the left side, allow the hands to drop straight down whilst encouraging more lag and then lead the rotation through the ball to the impact area. At impact, the hips should be turned at least 45 degrees past the ball with the shoulders half of that amount and the hands just ahead of the ball so that coming into the ball last with the most amount of power and speed is the club head.

The hardest movement here is the transition because many players get to the top of the swing, feel that sense of achievement and then swing back to the ball with their arms which will prevent the weight from transferring and the hips rotating, causing a decrease in swing speed and power.

The bodys core muscles hold the answer to your swing speed woes, however, the arms do not. Any player looking to increase their swing speed through their arms will generate less power due to the lack of movement in the bigger muscles.

The release of the wrists through impact can offer an increase in club head speed but its the lower bodys initial weight shift and rotation which helps keep the wrists lagged during the down swing in order for them to be able to rotate through impact with such force.

Narrowing the stance with the driver will have bad implications on your stability during the swing because it will become harder to create a full back swing without falling to your right side. Even during the down swing, the balance at the end of the shot will be poor due to the velocity you swing the club and the length of the club itself.