This wheel exactly matches Sheldon's description of the rear wheel on the Moulton Deluxe. Aside from the problem with that bicycle's seat tube which he describes on his Web site, he also told me once that the rear fork of that bicycle's frame twisted under load so the rear wheel tilted. He had to straighten the rear fork repeatedly and finally gave up. That problem explains the more rugged construction of the MK3's' suspended rear assembly.
The wheel has a dimpled-and-aimed 36-spoke steel rim and a Sturmey-Archer FW 4-speed hub rebuilt as an S5 5-speed, with a 4-sprocket cluster (freewheel body with freewheeling disabled, threaded onto a circa 1950 Sturmey-Archer threaded driver). With the double chainwheels up front and 20 speeds at the rear, this is a 40-speed bicycle.