Well its not really a waste its just not good for that plane.It would be an excellent plane on a cub,somthing with a narrow cowl.For instance a nitro-planes Tigermoth.There was a person on ebay a while back,quite a while.Sold one of these but i think it was the 31cc wich i would check your bore and see what size it is in MMs.If its around 20 then its a 21,around 30 its a 31.Anyway,the person only put a prop hub on the front of flywheel and got about $78.00 for it.Even with clockwise rotation.
1) You could try and change the timing easily.Bring the piston up to TDC.then mark where the magnets are on the fins,or just remember about what position they are in.
2) Then remove the flywheel and keyway.
3)Then reinstall the flywheel with out the keyway and put the magnets about where they were on the other side of coil but in about the same position as before.
Ive never done it but it might work.