Well I got it home and started dissembing and cleaning eveything and I find a Malossi 70cc cylinder, no wonder he thought it was quick.
-Gas & Oil tanks
-Intake Manifold broken-carb hacked up
-Leather seat cover
-prob some other things that I'm not aware of..
My plan is to custom fit some sort of tank where the old one was, run premix, will do a compression test on it soon, but I will prob. stick with the 70cc cylinder setup. Fresh cylinder if needed. 17.5-19mm carb. Might also simplify the set up even more, manual choke, turn signal delete (like euro spec models) Spedo delete possibly.
A collector in the UK mentioned Yellow was a rare color for the Velocifero's, so I won't be painting it.