For the T120 7-city game, I went Tradition, along with Merc, Rationalism, Freedom. Although the capital was exceptional, this was overall a weaker map than my T125 finish on standard size, which helped highlight the advantage of a large map over a standard size map. For the 9-city T115 game, I went Liberty plus 2 in Tradition, along with Merc, Rationalism, and Freedom. In experimenting with partial play-throughs and comparing, I think for Settler games of this duration it's actually very close between Tradition and Liberty+, as long as you can reach 6,000 faith. Using large maps for the science discount favours founding more cities, which decreases the value of most Tradition policies relative to the Liberty policies I would take early game.
Religious beliefs were the same as my previous games, which are the same as your T122 game. I don't think there's any room for improvement there.
All my fastest games went Education, Astronomy, then aqueducts later, built after observatories. In my T120 Tradition game, I bought the 3 remaining aqueducts immediately. By contrast, I actually think that in my T115 Liberty game, I could have ignored aqueducts in a few cities (low production, next to mountain). At a certain point, the end-game from Plastics to finish cannot go any faster, so with sufficient pop/beakers, building something like aqueducts after observatory is only necessary if it gets you to Plastics faster.
All settlers from ruins; built 2 workers in 9-city game, 1 in 7-city game.
Early gold went to tiles, bought 1 pathfinder in 9-city game, bought granary in ToA city in 7-city game.
I did not put gold into CS except if necessary to get WLTKD. Not sure on number of maritime allies. I set myself up to get cultural friends/allies early in medieval era, looked for situations where I could get a maritime ally (not just friend), and when possible delayed fulfilling quests for religious CS until Industrial era. I also experimented with some Liberty-Consulates games; with such a tight timeline (T120 or faster target) these attempts were essentially successful, but not successful enough to delay deriving value from other policies.
In my opinion the ideal number of cities for fast Settler SV is somewhere between 7-9, depending on the individual map as well as map size. I prefer the highlands map on standard size, but the science discounts on large map size outweigh the benefits of the highland map and make the best maps (on large) tend to be smaller map types like inland sea and great plains.