There is no reason it should not fly as long as the Cg is approriate. One and a half inchs does not tell us anything without knowing the chord.

Measure the chord from the leading edge to the trailing edge (including the ailerons) of the wing. Divide this measurement by four and the result is the distance back from the leading edge that I would reccomend setting the CG for the first flight. That is the quarter chord also referred to as 25% MAC (mean aerodynamic chord, which just means the average chord).

Your main gear looks to be a little far forward which will tend to make the airplane less stabile directionally on takeoff. When the taildragger main gear is closer to the airplanes center of gravity directional stability on takeoff will be improved but noseover tendency will be worse and elvator use is required on the ground. Moving the gear further forward ahead of the airplanes CG will make the noseover tendency less but directional stability is worse and landing becomes more difficult because it will have more tendency to bounce on touchdown ie the bouncys.

John