I'm not disagreeing with what PETEC said at all, he's absolutely right, but there's also an old adage mechanics like to repeat, you've probably heard it before, and it's still worth repeating....

IF IT AIN'T BROKE, DON'T FIX IT!

If that 110 is purring, has power at WOT, and is leaving a nice smoke trail, I'd hesitate to change anything. If you do, make teeny tiny changes. I personally would rather burn a little extra fuel and leave that nice smoke trail knowing that the extra fuel mean extra oil, and that means extra lubrication and extra life to the engine. If you lean it out you may save a little fuel, but you may also shorten the life of the bearings. If it's running good, idling good, and transistions well, fly it!