While I now fly the 777 and am in awe of the control/thrust/autopilot systems, this crew did something a DC-8 or B-727 crew would never had done.
They didn't control airspeed. Plain and simple. It's happening with increasing frequency these days - as our MD-10 in the high holding pattern showed a few years ago.
Open the speed edit box, set it at 200 knots, let the damn thing stabilize, see what you can do about cleaning up. Fly the damn airplane.