If you pull the carb and block, you should be able to get an idea of the condition of the reeds, although I don't know how you'd tell if they were really sealing or not -- when I took my block off that was the first time I'd tried it with a 3W, and I've never even seen a reed block before, much less know how they work. Bobby also mentioned that my engine was leaking a little bit of air at the fuel intake, but I don't know what he did for that. When I spoke to him it sounded like that kind of a leak may or may not have contributed to the hard starting and not running more than a second or two. Permatex markets the same sealant under a different name, in a blue tube, but its the same stuff. I'd sure give it a try before anything else.
Good luck, and don't let it dampen your Christmas spirit!
Sam