Hello David,
Thank you for the time and effort that you are putting into helping me work my way through this. I have the standard airbox and a new, oiled filter. A new rubber connector for the carb, and as far as I am aware no restrictions in the exhaust (though I will whip it off and have another look). Ignition timing is set BTDC, though I am a little intrigued by the fact that I do not seem to be able to over advance to the point of getting it to kick back. Over the thirty years that I have worked on bikes I have sometimes used this ploy as a starting point when I did not know the timing spec, just another little mystery.
I cannot vouch for anything inside the motor though as far as I am aware everything is standard 348.
As to the oil ratio, everyone I know here in the NE USA uses at a minimum 50:1, and friend who is an aknowledged Ossa expert, plus a Montesa dealer of many years tell me 80:1 for the 348. I have run the TY on 50:1 for the last six years without any problems or signs of wear on its annual strip down.
Anyway, thanks again for all of the help, it is much appreciated.
Mike