The Selectric is a fascinating machine. I highly recommend watching "IBM Selectric Typewriter & its digital to analogue converter"[0] by The Engineer Guy.
It's essentially a 1 character buffer, which is apparently sufficient to give a very fluid typing feel.
https://www.youtube.com/watch?v=xuPduBVGf8g http://www.bitsavers.org/pdf/ibm/typewriter/selectric/CE_ins...
The compensation tube is a cool design.