@ 1:59 it actually sounds like a hammond b3 emulation to me: i.e. an electronic organ. it differs in that it sounds like it has some string qualities in the body of the sound but the attack is more organ like; based on what I hear at the start of the vid I am confirmed in it being an organ emulation.
the other sound I have heard other than the drums is an alto flute played via a rompler
"808" is being used to refer to an 808 kick/sub bass
the only thing to add is "one man's great sound is another man's distortion" (Tom Lubin personal communication 1987)