Listening to the speeds, perhaps I got in a bit of a hurry listing this. The speeds sound very fast. 1 second is somewhere near 1/2, 1/2 second is between1/8th and 1/4, etc. Maybe I'll get a chance to work on it today.
The 2 things sticking down, one is a release piston, so yes it was for a pneumatic release. These were often converted to cable release though. You just enlarge the hole and thread it, and the cable pushes the piston instead of the air. The other one is the pneumatic retard piston which is what I will clean today and see if it improves.