Nope, that wasn't the problem. The tape is running at capstan speed.
Actually, if I hold the roller off the capstan, the tape moves slowly, as "take up" torque is low. Release roller to normal position, I get pinky and perky voices. Pressing the roller harder onto the capstan makes no difference.
This suggests to me that the problem must be one of:
1. bad motor speed control (internal to motor)
2. bad power supply to motor
3. incorrectly fitted belts.
As regards 3, I fitted the flat belt to around the largest part of the flywheel, and around the widest part of the "barrel" on the motor pulley. I think this is right, but the manual doesn't show the fitting.
The PSU at the motor terminals is at 13.8V, with a maximum fluctuation of +/- 0.15V.
I suspect 1 is the most likely cause.
What do you think?
Mark