The older book I have, that matches my machine, shows band brakes. The 74-75 book I have shows drum brakes.
The older book also shows an optional hydraulic brake lock. I guess you ordered that option of you were in the NAMCO drag racing circuit of yesteryear?
Both books also show a parking brake gear and pawl system that I don't see on my machine. That also must have been an option.
Is it possible that, on your machine, the master cylinder isn't retracting enough to open the port to the reservoir with the pedal all the way down? Air in the line could be expanding with nowhere to go.
You are right, if I go forward and let go of the lever, it coasts to a stop.