Yes, I'm the one who posted the "long-ass thread" . :)
Glad to know someone got some use out of that thread.
jeff51, you wound up doing what I did, mounting the circuitry to something stable - although I took a slightly different rout, using a small plastic hobby board. And yes, you can never have enough hot glue.

Coincidentally I have a PicoScope. They will do fine for what you're doing - even the cheapest 10mhz bandwidth model should be OK (about $140). If you want a stand-alone scope, Siglent and Rigol are very popular with the electronics hobby crowd - their lower end models are in the $250-$300 range.

As far as the negative ringing on your scope, that could be caused by several things, which would be difficult to determine here.
And yes, all the sensors I tested will saturate if the light is too close and too bright - which I illustrated in this YouTube video HERE. All my testing was done in a darkened room, I then moved the flashlight away from the sensor until I got stable waveforms.