Brian,
yes, it's a Cutthroat tpye coverstock with particles and it's pearlized (particle pearl). Cuthroat is the name of the base resin, as far as I know. I've seen CutThroat as solid resin and pearl and particle pearl. BTM really liked this coverstock, just before the Ebonite oil-suckers came around.
No, it doesn't need to be "broken-in" like DT Soaker coverstocks. The 1000 grit coverstock surface is fairly strong, with mild-ish core. I put light polish on mine and it barely handles medium oil, with drilling similar, very close to yours. BTM's reviews called it a very flippy ball with strong backend. Maybe with the stock surface and decent hand.
It can be a very useful ball.
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"None are so blind as those who will not see."