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Placing the "Prank" in the HP timeline

So I've been thinking a lot about Pensieves and how (objectively) accurate they are or are not, and that's led me into musings on the MWPP timeline. What set me off thinking about this was "Snape's Worst Memory", specifically as it relates to the Prank. If this has been done to death, I apologize, and humbly request to be pointed in the direction of essays/discussions on the topic :).
( cut for lengthy musings )