He plays it too fast...but, hey maybe there was limited space on the 78

In the early days of "78s" the recording speed could vary widely from around 65 rpm to 100 rpm, so that might explain why he seems to play it too fast - he may not have played it at that speed!

The early recording machines (and indeed playing machines) were mechanical, and I guess no one was particularly bothered as to whether the speeds matched, as long as the recording could be heard more or less OK.

I think it wasn't until the 1920s when 'talkies' started, that there was a need to ensure the speed didn't vary too much. That was when the 78 speed was chosen (for the best compromise between disk capacity and sound quality). Sometimes you can still find an early '78' marked with a different speed, e.g. 80 rpm, from before standardisation.

With some suitable software, you should be able to slow the recording down and get it to sound more like it probably would have when played 'live' in the recording studio (or wherever it was recorded).