I think fluid also flows slower through a diagonal, so you may want to incorporate that if you want a slow flow. Am I right in that?
Sort of. Pressure isn't transferred diagonally. Water flowing across a level will move at the same speed whether it's diagonal or not, but if you have it flowing faster than its normal speed because of pressure, it'll get jammed up at the diagonal opening. You'll likely have all 7s in the pressurized part, and then water leaking through the diagonal passage into the rest of your system at its usual, infuriatingly slow pace.
This goes for pumps, by the way, not just pressure caused by water sitting on top of other water. Whenever any water from the system spills through the diagonal, the pump will near-instantly refill it to 7s, but it won't pump water directly through a diagonal. I learned this the hard way.
What this all amounts to is that if you built something like Noble Digger's design, but moved one pyramid/half-cone one tile to the side and down, water from the top half would keep the bottom tile filled by means of pressure, but it would then flow through the diagonal to the top tile of the bottom half at a more normal rate (though more quickly than if it was receiving water flowing from a tile that was, in turn, being filled normally, instead of constantly topped off by pressure).
Put in a floodgate, and the middle level of the hourglass could look like this:
###
#.## <-- Bottom tile of top half.
##X##
##_# <-- Top tile of bottom half.
###You might lose a lot to evaporation as the water spread out to fill the bottom layer, though.