@Diasi your understanding was correct, here we are over a year and a half later and I am much wiser, whether I made the right choice or not is debatable but I can say I am ok with the outcome. This is how the final figures were calculated, to recap I made contributions for 30 years and opted out of SERPS in the late 80's so that ammount is not included in these figures, I was eligible for retirement in March 2017.
When I initially contacted the UK pensions in 2015 I was told that my "basic" pension ammount is £120, I can get increases but the basic will allways be £120. Deferring a pension accrues 1% every 9 weeks or 5.8% yearly, I deferred for just short of 6 years for which I gained 34% or approximately £40 which they call "additional pension" so combined with the basic that made a total of £160. When I received the letter notifying me that my application had been accepted they stated that my payments would be £195 per week paid every 4 weeks, that is an increase slightly greater than 20% of the total basic + additional which I assume is due to cost of living increases. Finally in May I got an increase of 10% on the weekly payment taking it to £215 and on top of that is the payment for opting out of SERPS.
This is only possible because of the agreement on pensions between the US and UK.
The reason it was important as part of my retirement plan is due to a law in the States called the Windfall Elimination Provision, I believe this provision was formed in the Reagan era and was designed to prevent an individual drawing a full state pension in addition to a pension that was earned by contributions that did not include payments to the US social security department. This includes American born citizens just as it does immigrants or naturalized citizens.
The way WEP works they use your retirement eligibility year (for me 62) and the number of years you made qualifying social security contributions, simply put these two values cross reference a dollar amount which is deducted from your US state pension. The dollar amount can be as much as $557 per month and if your spouse claims their retirement benefit from your earnings (this is how it works over here) they get 50% of what you get which also means if you got a $550 a month reduction they would get a $275 a month reduction a whopping $9,900 a year.
WEP does not kick in until you are actually drawing both state pensions which allowed me to defer without penalty.
So my plan of which my original question was a part, was to keep drawing the additional ~$9,900 a year until the balance swung from the US to the UK, not only in my favor but in a noticable amount, in May that amount went in my favor by ~$5,500 yearly which I took as acceptable.
Quite a wordy response considering the original question, the main point was to view what the Windfall Elimination Provision is about, there are many out there from the UK that WEP takes completely by surprise as it did me but if your aware of it early enough you can make preparations and turn the tables in your favor.
Where I am they might call an older man "Sir" or an older woman "Maam" so I say to you all take care "young uns"
Jeff