I have one of these that I bought in 1992 and its the strongest rc motor that Ive ever seen. I would turn the lowspeed neeedle al the way in GENTLY NOT TO TIGHT then back it out about 2 turns. Then do the same to the high speed and back it out about 3 turns. Make sure you have a good glow plug a standars RC long is what they use. Check the muffler pressure outlet for obstructions and also make sure that none of the tiny little screws are missing from where the 2 peice muffler is joined. Air will escape from that if its missing. The "epoxy is for sealing the carb to the crankcase. This engine has a little square tube on the bottom of the carb that slips into the crankcase and its held in by a set screw on the side. The extra screw on top is a bleed air system that they added to the new carbs. Mine does not have this but remember that it works opposite of the needle I.E counterclockwise=leaner and clockwise=richer. I would turn it all the way in and then back it out about halfway.
Once it starts you can adjust from there. If you need more help call FOX they are very friendly and are lots of help.
Hope this helps