Thanks, yes, you are correct on all counts, the way I read it the 55 chip is for the timing/switching functions as you describe (not actual PS, sorry, that was confusing). I was trying to explain why external LPS didn't make much sense to me since there is what essentially seems to be an internal switching PS in the Trumpet MC. And, not the jfet is not actually needed for the variability functions, but it is there as a very quiet way to enable that (hope that makes sense?). My ability to understand and explain these things is (obviously) limited.
At this point I lean toward not spending the $ unless someone responds that they have tried the Piccolo and the Trumpet MM and have heard a significant improvement or difference.
I know that @mulveling has a Trumpet reference and he might have something to say...

