There are good references in the wikipedia page for the 101 - of course, an individual investigation is a good adventure anyway.
There’s a video here for anyone who’d like a closer look:
The hack42 site has some technical info in Italian. Automatic translation of part of it:
The information is contained in the sequence of twists inflicted on the wire by the writing circuit in the delay line (LDR). When the bit is set to 1 (ON), the writing waveform switches halfway through the bit period.
The medium is therefore accessed strictly sequential, with a latency proportional to the length of the steel wire. The degree of parallelism is 1 bit.
Given a write frequency of 1 MBit/Sec, a total capacity of 1920 Bit and a gap to incorporate tolerances in the electro-mechanical system, we have a recycle time or latency of 2.1 mSec.
The delay line with a plate with the readout amplification circuit, for protection is boxed in a sheet metal structure.
A metal frame provides the framework for side-by-side mounting of the LDR and a half-plate to be inserted into the 9th position of the drawer unit.
The circuit is divided into three functional blocks: the amplifier of the signal generated by the electromagnetic transducer, a squaring device and a pulse generator with a duration of 0.5 μSec.
LDR Description by Alessandro Graciotti
Amplifier block diagram Delay line.
The input signal is amplification by a two-stage NPN-PNP differential amplifier (T6–T9) followed by a single-ended NPN output circuit (T1). The transducer is connected to the non-inverting input of the amplifier; the output signal is fed back to the inverting input, entirely for the DC component, attenuated approximately 400 times for the AC component. The calculated open-loop gain of the amplifier is approximately 500; due to the feedback effect, the effective AC gain is therefore approximately 220 (confirmed by measurements).
The feedback filter return (C4 and C5) is connected to the transducer return at a constant voltage of approximately +9V obtained with the zener Z2 (1N756) in series with a diode. This way, any noise present on the power supply will not be amplified as it is presented in common mode on the two inputs. The quiescent output voltage stabilizes, due to the total DC feedback, at the same level as the input.
The amplified signal drives a classic Schmitt trigger (T4 T5) whose threshold is set at approximately 7V, i.e., two volts below the amplifier’s quiescent output voltage; the hysteresis is approximately 1V. The transducer voltage required to excite the Schmitt trigger is therefore approximately -8mV. The output of the squarer is a positive signal of approximately 5V, the duration of which depends on the shape of the input signal.
The square signal drives a 500nS monostable oscillator consisting of T2 and T3. The output of the univibrator is approximately 12V without a load.