The VECO was designed by Clarence Lee who wrote the engine column for RCM magazine for many years.
It is the predecessor (virtually identical if not exactly) to the K&B .61 which is a fine engine. I've had several of the K&B"S and still have 2 which I still fly. It may not be as powerful a a more modern .61 but is still strong and was one of the strongest for it's size in the day.

http://www.mecoa.com/kb/parts.htm if you want more info or need parts. The K&B's are still in production.