Wild ride around Gateshead, but it's slow! (5)

I believe the answer is:
dirge
'it's slow' is the definition.
I can't judge whether this definition defines the answer.
'wild ride around gateshead' is the wordplay.
'wild' indicates anagramming the letters.
'around' indicates putting letters inside.
'gateshead' becomes 'g' (head letter of 'gates').
'ride' anagrammed gives 'dire'.
'dire' enclosing 'g' is 'DIRGE'.
'but' is the link.
Can you help me to learn more?
(Other definitions for dirge that I've seen before include "feature of funeral" , "Requiem" , "A slow mournful song, lament for the dead" , "dreary tune" , "part of funeral, perhaps" .)
