Even many of the older "standard bandwidth" cables were up to the high speed specs. These days, pretty much all cables are high speed. I always just say try it and if it doesn't work, then buy a new cable.
The ethernet and arc functions add wires, and so add to costs, so they are marketed separately. If you don't need these functions, don't buy them.
Still, there are folks who need to have the latest and greatest, even if it doesn't make sense. The manufacturers (like Monster) will happily package 1.4 cables and market them right next to the "DIGITAL HDTV" antennas. Pure marketing hype, but it works and lets them get a higher profit margin.