It's funny, because I don't really remember him cutting the attacker down from the 1935 film. So I watched it again just now, and I can't say I better understand what you are talking about.
He catches most of the strikes and doesn't seem to cut them down. Maybe I don't understand what you mean by "cutting the attackers attack".
Also, on the third point, I was actually surprised after watching the film again at how few atemi he is using. In the book, I know that I missed several of the atemi after watching my video and looking at the book.It's funny in the video he doesn't do all that much atemi.
I just watched the whole 14+ minutes of the 1935 video (again). Regarding the cutting the attacker down comment by Szczepan, perhaps he's referring to Ueshiba's cutting motion against shomen and yokomen attacks. Otherwise, I don't see much of anything that could be called cutting the attack, especially against the grabs. Maybe Szczepan could be more explicit as to where in the video he sees this cutting motion.
Ueshiba's use of atemi is either subtle to the point of being invisible or it just isn't there. I don't count the big arm sweeps to the face as atemi since they are plainly not meant to connect as blows.
This video clearly shows that by 1935 Ueshiba had begun to evolve away from his DR background. There is a lot of blending with uke's motion, leading the attacks and throwing via "fitting" as opposed to forcing uke to move in a particular direction.