Wheellocks and their ignition have been discussed several times here at ALR - the general feeling I get from reading them, is that the wheellock is about the same speed as a flintlock - what Taylor says about his wheellock is true and correct- the ignition is simultaneous(to all perceptions) with the touch of it's set trigger - POW, not gopow or clatchpow as with a flint. I don't think the vent location is particularly important, however, the suggestion of having it in front or behind the edge of the pyrites to protect the 'rock' form vent blast is a good one, especially with a rifle developing higher pressures than the pistol.
I have a flintlock rifle, which puts the front left corner of the flint right down into the pan. The flints errode in a diagonal line across the flint's leading edge, almost as if the cock was striking on a funny angle. This is not so, the flint strikes evenly across the frizzen, but the flint always develops this angled 'wear' pattern. It has to be from the powder gasses coming out the vent. The other rifles, with flint stopping just above the vent don't do this, only that particular lock. Thus, I believe, with a wheellock rifle, the vent could be behind or in front of the rock and that would 'save' it' for longer shot strings. With such low pressures in a pistol, I don't think it's important enough to play with. I have not noticed any abnormal 'wear' with Taylor's pyrites rocks. This particular pistol also has a smooth wheel, for use with old flint chunks - works great.