WP - Add custom field and term based on title when saving a post

gistfile1.php

// Problem: This adds the term to the taxonomy, but it does not connect it to the post. It seems to connect it to the revision or something.
// Problem: When the title updates, the custom field does not update until after saving twice.


	add_filter ('title_save_pre','w559_title_hook');

	function w559_title_hook($title) {

		global $post;
		$id = get_the_id();
		$pt = get_post_type();

		// Check if this is the right post type
		if ( $pt == 'tax' ) {

			// Parse the title to see if it has a figure number and type
			// Title format is "Identifier | Table 10 | Title"
			$title_parts = explode('|', $title);
			$title_main = array_pop($title_parts);
			$title_main = trim($title_main);
			$label = array_pop($title_parts);
			$label = trim($label);
			$type = preg_replace('/.*(Table|Figure).*/i', '$1', $label);

			// $timestamp = date('h:i:s');

			// If it has a figure type, save that in the type taxonomy
			if ( $type ) {
				$taxonomy = 'type';
				// if ( ! isset( $post->post_type ) || $post->post_type != 'tax' )
				// if (!wp_is_post_revision($id))
				wp_set_object_terms( $id, $type, $taxonomy, $Do_Not_Overwrite_Existing_Terms = true);
			}

			// If it has a figure number, save it into a custom field
			if ( $label ) {
				$meta_key = 'chart_label';
				update_post_meta( $id, $meta_key, $label );
			}
		}

	   	return $title;	
	}