[Yoda]

Am I right in thinking that the hands do accelerate but the pulley size is the more important factor in clubhead speed?

The Hands do accelerate in the Start Down and Downstroke. However, due to the Law of Conservation of Angular Momentum, they actually slow down in Release as the Club accelerates (6-C-2-B). Now, only sustained Clubhead Lag Pressure will prevent a substantial loss of Clubhead speed. Use Power Package Thrust (Muscular / Hitting) or Throw-Out Action (Centrifugal / Swinging).