Ok , I'll check the fly wheel key . But you might be on to something with the valve seat . The plug is very black and it got that way in a matter of minutes . When I used it the other day for the first time (been sitting for YEARS, atleast 6 that I know of) I run some mixed gas threw it but in order for it to start and get prime I put a a squirt of starting fluid in the plug hole and hand tightend the plug . Well I forgot to tighten it down snug and after a few minutes of running there was oil that seemed to be coming from the spark plug whole . When I took the plug out to look at it, the combustion chamber is very oily and has a lot of carbon compared to my other similar motor . So it could very well be a valve seat . You happen to know the valve specs by chance ?