When looking at information for "Wadley-Loop" on the net, keep in mind that some of this information is wrong.
w2aew is good in what he stated, some facts on the drawing at 1:40 are incorrect or incomplete. I have seen radios with filters adjusted wrong do to the missing information.
When you look at drawing at 1:40 think of the following.
You have a radio with a 1 Mhz tunning range with a up converter in front of this.
This should make it easy to see that the second BPF has a simplified BW stated. While tuned to the top or bottom of 1 Mhz tunning range, this filter needs to pass the sidebands of the desired signal.
You need
Bottom - LSB to Top + USB
Not a big deal here, but for some radios this is very important fact.
This leads to first BPF also having a simplified BW stated.
This filter needs the bandwidth of above filter + drift of first oscillator. If this filter BW is too small you have the drift canceled and desired signal removed or reduced due to this filter. At edge of 1 Mhz tunning range, the desired signal is moving up and down of the edge of the filter's bandpass when first oscillator changes.
One thing often missed is real time correction. Tunning to 1 Hz or less is possible while the first oscillator is or has drifted a large amount. The error correction is exact.
You often see stated that a "Wadley-Loop" receiver must be triple conversion, this is incorrect, double conversion will work and has been done and can result in a better radio.