Yes, what is being said in this translation is not the whole story, the core substance that makes aiki work is left out - is this by design or was it just not transmitted to this guy? also, the aiki age description does not jive with what how I understand it to work - I agree with not bending wrist, but the just lift hands part sounds wrong to me - no mention of elbow power here
Yes, it's pretty sparse. I wouldn't look for too many specifics, but it gives an interesting (to me) look at their general approach and point of view.
Part of it is that the folks in Sagawa Dojo are pretty closemouthed (the person who made that quote said that himself), and part of it is that the language and terminology don't seem that well developed in many cases.
One of the things that interested me about that first quote is the clear division (but interedependance) between IP (ie "Martial power") and Aiki that was made. Also that, as in the Sagawa quotes, the training is focused on the creation of a certain kind of body.