Can't see the rear enough to even see if it has suspension let alone what design. The inner tube or whatever on the steering looks like more of a soft limiter than a damper. It's going to do very little until it's pressed near it's limit and then only in one direction. I'd expect it to be of little use.
Yes, a nice machine, even with a wobbly front end. The "rubber band" is performing something of a self centreing function just before it is broken in half, leading me to think that Popshot's soft limiter might be its purpose but, as he said, its added value might be questionable.