I came home late from work tonite (7 PM or so), but simply HAD to make a raw slide in order to test the action.
It works! Full blown pump gun feeling and everything. Shot about ten rounds without any problems. The racking action is very light, even with two bands per side. It will be easy to upgrade to three bands per side, giving the weapon serious power.
This "eats" bands right now as everything is rough and edgy, but I love it already. Next weekend, I will be returning from a biz trip late on Saturday, but hopefully I will make the necessary enhancements (rasping... filing... sanding... painting) in time for the Sunday nite video.
I promise you an epic slingshot.