Update!
I've been using the washer now for several loads... it will hold all the clothes that we ever need to wash at once. A couple days ago, we washed a huge rug in it. It handled it without complaint, and I'm sure that it wouldn't even fit in our previous Estate or Whirlpool. It takes less soap than I'm used to, and it washes great.
The spare timer finally arrived, but I think it will be unnecessary. The original is working perfectly, despite what the previous owner said.
I don't have all the answers for those with technical questions about the washer, but I can make educated guesses. I believe the motor (and everything else) is controlled by some electromechanical relays, hence the clicking and clacking when it changes direction. I don't think it has a three-phase inverter inside, but I couldn't say for sure... there's some giant mean-looking capacitors in the circuit for sure.
At the end of the cycle, the last couple slow revolutions after the final spin seem to fluff out the clothes after extraction, so they're not all stuck to the outside I guess.
After inspection on the inside, I see that the machine has no internal suspension whatsoever. It does have a large, extremely heavy duty iron frame that holds the tub supports and connects to the floor, hence the 500 lb. weight. Once bolted down, the machine behaves the same no matter how gigantic the load... the frame takes all the stress in stride.