I once put ignition on an Enya .40, worked well but the glow carb was a little touchy...A smaller carb and the new C&H smaller igniton with a single small battery would work well...The RC EXL 1/4-32 spark plugs seem to be holding up well.....
Try to put a good needle bearing on the big end of the con rod so 32-1 fuel can be used....
BME uses Chinese Super Tigre 90s because the crank web is strong enough to withstand pressing in a new harder crank pin for the bearing, the ST crank web cracks when the hard pin is pressed in.....
Go for it