That's an interesting console that looks more like a mid '70s Kenmore design than WP branded machines from the same period with slanted consoles.
I can't figure out the "Regular" cycle. It has "Heavy" and "Light" settings but also seems to have timer increments. Are those two settings only suggestions? I also can't make out what the cycle at lower left is.
There are only two cycles. Regular timed (120 mins max, 5 mins cool down) and Perm Press timed (75 mins max, 10 mins cool down). The fabric weight designations are for user convenience vs. mentally calculating a time.
1) Pic 2 from the OP.
2) 3) Pics saved from a previous ad of the electric model (LE4440WW, circa 1990-91)
3) A 1972 model with the same timer cycles but labeled differently for Regular.