What it looks like, if anyone cares. (Each image is a clickable link with a full resolution version).
Judging by the times listed and personal recollection, it looks like the first record is indeed when it was checked (Playing it risky by checking a bag one minute before the 60 minute international baggage cutoff!) and the second record (arrival) is when they unload it from the plane
I'm guessing (arrival to the belt occurred over twenty minutes after that, but the flight arrived at 8:38AM, and bags didn't arrive onto the belt until well after 9AM.) However, as an international flight, it's possible that the time represents the bag were tendered to customs, whereas for a domestic flight they might represent a scan just before being placed on the belt.
