That makes sense, OK so it won't ack until the PDS device acks it.
Disclaimer: I really don't know much about the bus transfers.. I just saw you made your own graphics cards... respect!
The extra clock delays for 603 to 040 is the same for the valkyrie chip. The PPC can do 64 bit writes, assume it is aligned. The 68040 data bus latches on the 603 data bus, the address bus of the 603 goes to Capella IC which translates to 68040. A 64 bit write on 603 will (likely?) be translated to something like long word: start, address, 4bytes, 4bytes. (idk the 68040 protocol)
PDS A31-2 is on the 68040 address, so it already sees it (the gfx chip could already now prepare, I'm optimistic, probably), PrimeTimeII would get the address and the first 4 bytes, it would then send those of on 68030 bus, if it is a 16 bit device (which I think this older card is?) then it would be 2x16 cycles, and then another 2x16. Then there must be acks per each 2b, and then from PrimeTimeII an ack for each 4byte. Hmm definitely won't be able to write 2 bytes each cycle of the possible 16mhz. And so hmm yes unlikely to reach 17mb/s? But *maybe* with a 32bit interface card? (are we sure this card is not 32 bit interface?)