Mike, I have a couple of Philips meter/timers from the late 70's and they were quite sophisticated, you used the probe to measure the negative highlights & shadows and a dial calculator, sepereate indicated the grade & exposure time, it had a paper speed dial that you calibrated. It was very good, but I'd already been printing commercially for a few years so the old dog knew better tricks.
The Polysales timer may have been similar. Both Rayco & Melico made very good equipment, they made professional timers & colour analysers and went particularly for the burgeoning colour market as it took off in the late 60's. They were the RH Designs / Darkroom Automation of that era and extremely good at what they made, but they didn't have the resources of Durst, Philips etc to compete when they entered the analyser & timer market.