Hey Matt, CONGRATS on your find! I have the same machine but in Avocado. There is no "pressure switch" for water level perse, it's more of a float arrangement in that plastic tank on the back of the outer tub.
(The adjustment for water level on my washer is off. If I set it for a "full load" it fills the tub and then overflow for a few minutes. I have to set mine about about "1/2 load" for a full tub/load.)
As the machine fills, some of the water is diverted into that tank (there's a small funnel at the top of it). Once the water level in the tank moves the float (and water level switch), the inlet valve closes and there's a 30 second or so pause before it starts agitating.
Once the agitation period ends, it pauses. During that pause, a solenoid lifts the plunger blocking the drain port in that small tank and the water drains into the outer tub.
As John said there should be a tub brake, mine has one and stops the spinning tub in about 5 or 6 seconds.
I hope this helps!
Kevin