That is indeed a quickie-jett .40 428 pylon engine. Distinquished by the carb/airvalve, spraybar installation, Nelson style glow plug, and the shorter/fatter Q-500 muffler. Hard to tell from the photo if it is an R1 or R2 crankcase.

It does NOT have a fully functional carb. That black carb is an air-valve carb. Although you can roll the 'throttle' back a little bit (no less than 3/4 throttle), the function is mainly as an engine shut-off. If you try to pull the throttle back much past 1/2, the engine will quit.

Jett's true 2-needle r/c carbs are colored red, and the fuel inlet is up near the center line of the carb block.

The engine must be propped so it turns over 19K rpm on the ground. Preferably it should hit a ground peak rpm over 19,500 rpm.

The APC D-1 series 8.75x9W and 8.8x8.5 are good props to start with. If the engine is in good shape, either one will peak near 19,800 on the ground. You want to launch them slightly rich somewhere just near 19,000 rpm. If the engine is a bit worn, you may want to back off on the prop a bit. It will run fine, but the important part is to get the rpm up into the correct range.

Any questions...... feel free to post, pm or drop me an email

Bob