Aiming at the feeding instability problem of high-speed printing machine caused by bad dynamic characteristics, an experimental device of dynamic characteristics was developed and some experimental investigations were conducted. The dynamic torque and vibration of CAM distribution shaft was tested using the experimental platform. The acceleration of separator head frame, lifting sacker, and delivery sacker, and pressing foot was tested using piezoelectric acceleration transducer. The result showed that shown that the torque of separator head changes periodically, and increases suddenly as speed increases; when the speed increases from 10000 s / h to 15 000 s / h, the peak of acceleration increases three times, and the vibration of separator head intensifies. It was concluded that cam curve and spring layout should be optimized, so as to reduce the variation of feeder cam shaft's torque and to improve the stability of paper transferring.