I got a used Poulan chainsaw at a small engine repair shop. Its a Poulan Pro 335; which is 3.35 cubic inches --or-- 54cc. I got it for $45 and its in fantastic shape. 125PSI on the compression check and it started and ran with only 4 pulls of the rope.
I took a hand-held portable band saw to it. It was one of them saws where the case is part of the saw body. I got it pretty close with the band saw and then put it on a mill. I finished it off with a dremel and a rotary grinder. I bead blasted the whole thing when I was done.
I sent my magneto to Ken Lambert. He's going to machine it down to about 1" in diameter and put my magnet in it. He's making a carb adaptor and sensor plate for me as well.
I got an ignition system from RCIGN.
All together I have $210 in the engine.
I'm using the stock muffler for now. I'm going to try and convince one of my buddies that he needs to make me an aluminum muffler with his TIG welder. That shouldn't cost more than about $15-$20 for aluminum, and a 12-pack of beer.
Hopefully-- this engine will run for under $250
I'm counting pennies here-- but I'm on a shoestring budget. It's great to be able to get a nice 54cc gasser going for under $250.
I started a thread on my conversion here in the engine forum. I'll post RPM #'s in that thread when I get it going.
Too much fun!!