I found some time to build the adapter, install & test it.
Unfortunately I couldn't find my IDC connectors so I decided to simply solder the wires to the board - it's not like I need to be able to disconnect it:

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Fitted the completed adapter to the drive with a stock ROM, just to prove that I hadn't fried anything.

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A directory & status test (using JiffyDOS ROM C64 side) showed comms was working down the serial line:

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I then inserted a SpeedDOS rom into the drive & tried the same tests:

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Oops, something wrong there, the status line is garbled - at this point I suspected my soldering so using the connection guide on the adapter silkscreen I toned out all the wires end to end (from pin legs to C64 USER port end), this showed that the orange wire was open circuit. A quick inspection of the ribbon showed that it was probably bad where it had been folded in the Parallel port plug:

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I did a quick hack to reconnect the orange wire from prior to this visual defect, and retested:

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And all is now working!
Unfortunately, my Zoomfloppy still fails to allow me to transfer via parallel using this drive & adapter instead of dolphin dos 2 (which also didn't work). Suspecting the cable length I trimmed things down to 1 metre (as suggested), with no improvement.
Next test will be burning the stock SpeedDOS 2.7 ROM instead of 2.7+ (which has 40 track support), Zoomfloppy, opencbm, & nibtools are very picky about what they will work with.