Nope it's definitely air resistance; bear in mind the forces involved are minimal and the fan spins impressively fast. I previously couldn't visualise it as I assumed it made it have a constant tempo. This isn't the case, it merely reduced the amount the tempo changes, which is to say it regulates but not very effectively. It does this as the resistance to the fan increases to something to the degree of the square of the fan velocity and has a vague regulating effect on the power going to the cylinder.
I have a vacuum pump(one of those glass domes with a pump to evacuate a decent amount of air) somewhere and if I can find it I will run it in there and it should run must faster once wound than when ran down. Obviously the sound won't be audible/as audible but I will still be able to see the cylinder turn.