I think you're basically right -- my guess is that it's a condensed Cooper Black Italic with swashes. All the letterforms match pretty well, but I don't know what the swashes look like. Mark will know.

Well, it's not Cooper Black Italic. The x-height is too low and the swash M and F do not match at all. My guess is that this is custom letteriing inspired by Cooper Black Italic. It also looks like it's been around for a while ('60s or '70s).