Take it to a precision hone shop, get the cylinder honed round and straight..Then get a Frank Bowman ring...Take the useless stock mag off and convert to EI..Get some G10 epoxy board and make a new carb insulator block...It should run OK then, it's still a little heavy for its size, but not bad...The same company made the Horner Twin..It was better..
These are Taiwan engines, made a long time ago before the China engines came about..