Hans;
I checked in a program the HID variables for the mouse and trackpad are the same X-Axis Y-Axis. But 'chuck' probably just calls some interface that is available on the OS. That is how it works on Mac OS X. So if the OS admits PS/2 devices, then should feed some information into that interface, which is what 'chuck' then reports.
Though some older protocols like SCSI have advantages over more modern, consumer friendly ones like USB, I don't there are any system bus issues for these, as one has some intermediate hardware that provides the communication. In the 1970s I assembled a computer, that wrote the keyboard characters directly into memory, which the CPU checked in a loop. This is highly inefficient way to handle it.
For the USB keyboards I have checked, this seems to be limitation of the keyboard, that is, even before the data is sent to the computer. This is because it differs with the keyboard. The computer is so fast that it easily can handle any human typed key roll-over. The slow USB 1 bus is on about 12 Mb/s, which should admit for tens of thousands of key stroke in a tenth of a second.
This might also be limited by factors like maximum poll-rate and resolution;
When experimenting with the diatonic key map, the problem is mostly due to other process running. One notorious one is looking for RSS feeds.
I think I tried a Mac keyboard once on a Windows, finding it not working. One needs to have a driver installed. Each device may require its own. The USB HID interface unifies those, so that only one driver is needed, which then can be supplied by the OS. The latest version of this USB HID interface or standard was issued this year. So perhaps it was not available when 'chuck' was written.