Ah, crap, you're right, that video is of an 1100. I had assumed it was a K75, since it was posted on a K75 thread.
So the bouncing needle might be normal for a vacuum modulated FPR? I might have ordered a replacement one for no good reason, we'll see if I decide to switch them out anyway.
But here's a development - I looked at the timing setting. I had looked at it before, noting that the notches didn't line up (which seems to be a way to set the timing roughly to stock), instead it was rotated about 3 degrees. I had made the assumption that a previous owner had advanced the timing a bit, something I read about a lot. But with a second look, the plate had been rotated COUNTER clockwise - if I understand it right, retarded the timing. Perhaps somebody had misunderstand the directions for advancing the timing? So I set it to stock.
Big improvement! When cracking the throttle, instead of going whu-beaurgh-whoom! (or sometimes whu-beaurgh-click...), it now goes whu-whoom! Now I probably need to rebalance the throttle bodies, which might improve things further. Perhaps one day I'll get it to do a straight whooom!, but that might be too much to hope for.