I too am slightly confused about the irimi nage part.
I can picture all the movements (my picture might not be Shany's) but from the point of parrying the first thrust I can't see any flow to irimi nage. How is the gripped right hand used? How is the knife-arm controlled? Where are the feet and torsos at the time of the elbow-strike and what is Nage's left hand doing?-I'm thinking it's going to the back of Uke's neck but this seems slow.
hmm, if me and you were to stand infront of each other,in gyaku hanmi position.
1. your right foot is infront, and my left foot is infront
2. your right hand 'waits' for the attaker
3. i grasp your right hand with my left hand
4. i attack your stomech with my right hand (punch/knife)
5. you block with your left hand (throwing my punch inward) - from your point of view, that would be to the right
6. you are going into irimi-nage
7. with my hand that you just blocked me, i blow and attack into your ribs
8.with my left hand (that is grasping your right wrist), i move it down into sankyo position
9. move my right hand into the sankyo grip and perform sankyo.