Right you are about spelling/pronounciation thing.
Waistcoat (a sleeveless garment that ends about at the waist) is called a W'skit in UK.
in US, a Waistcoat is a waist coat. and an alternate word a vest is Weskit. the word weskit was created to match how Waistcoat was pronounced.
the first time i saw Jane Eyre, i was startled by the character Syngin.. (where the hell did he come from?) eventually i realized that St. John was pronounced Syngin!
(grindstone in US is Grind Stone--not grin d stin)
and Hempstead (a town and road on LI is Hemp (like the fiber) stead (like instead with out the in.)
and just how is the town called "chumley" really spelt?