Looks like a nice machine w/ some features I like, some I'm not so sure about...
Engine says it's only 7hp, not 9 - which suggests you only have an 11gpm pump, not a 16. With the 5" cylinder implied by the 34 ton rating, that would seem likely to give a slow cycle time...
The engine looks nicely mounted, and fairly well protected against getting bashed by obstacles on rough roads...
I'm not crazy about trunnion mount cylinders, but I haven't seen that many complaints about them either.
The tank and frame design is interesting - it appears that they are using the tank as a chassis member, but have avoided doing the axle-stub welded to the tank that some folks have had troubles with. It will be interesting to see how that end plate design holds up, but it looks nice and robust. Tank capacity looks good, and the design should help keep fluid foaming to a minimum.
It looks like a really excellent jack-stand setup
The hydraulic plumbing looks well done, including the use of a substantial return side filter, and a nice short run on the suction line. Not so thrilled about the hose clamped return line though - I've had one of those lines blow off on me under pressure, and hot hydraulic fluid showers are NO FUN, and make a real mess... I'd consider going to a hydraulic shop and paying the $50 or so it will cost for a manufactured line w/ swaged ends (or shop on-line and get one for less)
I like the valve position - went through a lot of work to get a similar position on my HF splitter.
Overall looks like a real nice machine, only things I'd really be unhappy about are the undersized engine / pump combo and the return line...
As to the question on engine speed, yes, you should be running at full throttle... The gallon per minute output of the pump is a function of engine speed - the faster the engine, the more it pumps. To get the rated pump performance, you need to run the pump at it's design speed, i.e. the full engine speed... You will also find that unless you are running at close to full speed, the engine may stall on tough splits - as the hydraulic pressure goes up, the engine load increases, until either the log splits, the engine stalls from overload, or the pressure relief valve opens... If number one doesn't happen, you want number three, not number two...
BTW, your pictures look fine - the sizing is very nice, it's about what I like to use, a good balance between size and visibility.
Gooserider