You need to adjust the carbonate rather than dilution.
It is close to right, depending on where you want your highlights to go.
I'd describe the grain as 'fine' rather than 'coarse', implying the classic understanding of fine grain being regular rather than mushy and clumpy.
It's an old formula, and the film you are using might prefer a different balance.
A very nice look. At one time, it was a motion picture developer.
Kodak's time and temp ( c 1940 ) was 65?, 15 - 25 minutes.
Crawley made the best glycin developer EVER in the '60s: FX2.
It manages highlights for our current films better than the old formulae,
makes perfectly useful curves, and the wee bit of metol gives 2 to 3 times the shadow speed of glycin developers. Since metol and glycin are not super additive, the glycin signature ( long, perfect highlights ) are NOT hurt in FX-2.
For T-grain films, don't use the Pinakryptol.
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