Parker acquired Gresen in 1999, so you should be able to get info from a Parker Hydraulics dealer. Hard to say what kind of luck you will have finding the parts you need, or the cost if you do find them. I like to reuse things like this myself, but sometimes just getting a new or used valve may be easier and more cost effective.
The 3 point hitch on most tractors doesn't have down pressure, they are single acting (up only). As you are plumbed would be correct operation for a common 3 point. Removing the return hose and plugging the port on the valve and putting a breather vent in that port of the cylinder might let it lower quicker. Right now it has to pull oil back into the cylinder to lower.
Does the pto mounted pump prevent using any pto driven equipment while the pump is in place? Does this current hook up have its own reservoir or is it using the oil in the transmission case? The pump and valve arrangement you have may have been installed to run drawbar pull equipment with a remote cylinder on the equipment, many such remote cylinders were single acting.
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Today's Featured Article - Oil Bath Air Filters - by Chris Pratt. Some of us grew up thinking that an air filter was a paper thing that allowed air to pass while trapping dirt particles of a particles of a certain size. What a surprise to open up your first old tractor's air filter case and find a can that appears to be filled with the scrap metal swept from around a machine shop metal lathe. To top that off, you have a cup with oil in it ("why would you want to lubricate your carburetor?"). On closer examination (and some reading in a AC D-14 service manual), I found out that this is a pretty ingenious method of cleaning the air in the tractor's intake tract.
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