Which piece of Kscape hardware governs the download speed? Whichever piece you are downloading to. The Terra is only a server. A Strato S is both a server and a player. The only pure player is a Strato C and you can't download to those. You can find more information on the Kscape support page but the easy way to think about this is that the newer generation servers are faster than the older generation in almost every case. For example, I have a Strato S and the latest Terra compact server 30TB with SSD. I'm seeing about a 50% reduction in average download times, from around 50 minutes to about 25 minutes. I haven't done a direct comparison of the same movie downloading to each server but if I scan my download history, on average I'm seeing movies downloading in half the time it typically took when I was downloading to the Strato.
But total download time is affected by many things. Download time will vary based on the size of the movie file, the maximum download speed of your ISP link, other activity on your home network, the maximum throughput of your firewall (if you use one) because they often top out below the bandwidth of your ISP link, and the throughput on your internal LAN. In my case, despite the fact that I have 1GB service from Verizon, my Meraki firewall maxes out around half of that.
Download speeds can also be impacted by any movies you are playing from either the Strato S or a Terra server. Someone can correct me, but I believe the Strato S pauses downloading when a movie is being streamed to ensure there are no dropouts in the playback. A Terra server with hard drives doesn't pause the download but it will throttle download speeds if a movie is playing. However, it is claimed that the Terra SSD can handle up to 10 movies streams before it has to throttle back downloads.