Either regular pump gas and 2-stroke oil 40:1 or AV Gas and 2-stroke oil 40:1 is what I run.
You would have to buy or make a prop hub to replace the stock flywheel and almost any electronic ignition could be made to work
Here is a place that sells the parts
If you convert to EI then the rev limiter has been removed. If you want to keep it stock I doubt that engine has one (non of mine had them) but if it did it wouldn't make much difference as on an 18X8 prop it won't go much past 7K except when unloading in a dive.