Hello Aperira.

The engine is brand new, so I would presume the valves are ok. But saying that, my YS110 did not run from new, and I found the regulator full up with swarf and other rubbish, so may be worth checking them.
It runs perfect on the ground, HS needle is rich, and it does smoke a lot. i have richened the regulator by turning it CW, but will try it some more to see what happens.
It does appear to lean when in the air due to the cutting out, but It I would of thought it would do it on the take off run as well as it is so long, and the engine has had time to unwind a bit.
Good job this palne floats aso well with flaps down.
Will not be able to try for a couple of weeks as going away on business.
Thanks for your reply, all information helps
Darryl