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Well, here's what I came up after some listening and thinking.

There definitely are some additional sounds between consonants and after the last consonant in a word, especially when the consonants...

That's why you can at times run into spellings like "гъдѣ" in old manuscripts.

Твердый знак ("ер") was used to denote this very reducted ы-like sound (and still does in Bulgarian AFAIK).