Methanol burns about two times slower and only has 9500btu/lb compared to 18,400btu per pound for gasoline. My guess is these were not blown or turbocharged so there is no way you could get the power you claim unless you burned 3 times the amount of methanol compared to gasoline. And...the engine's EGT would be in the toilet with methanol due to the latent heat of evaporation being about 3.5 times higher than gasoline which means everything runs far, far cooler, a blessing for valves but hell on cylinders/rings/pistons as any residual lubricating oil would immediately be washed away by the methanol. The claim of "way more power" requires at least 3+ times more methanol per intake charge than gasoline to produce the same amount of energy per unit volume. Even reducing combustion chamber volume to 13:1 won't get you there normally aspirated.
You DO understand the concept of racing engines, right? High lift cams, bigger valves and valve springs, ported intake & exhausts. Steel cranks. I think the rods were aluminum. Not sure about the pistons. There were 3 classes. Stock, stock appearing, and modified. Stock is stock, except you could remove the governor, use bigger jets in the carbs, and any exhaust. Modified was, anything goes within the confines of an OEM block and OEM head. The carbs, intakes, and exhaust flowed WAY more than stock. We burned WAY more methanol than a stock engine on gas would. I think I read somewhere where the stock engines were burning about 2.5 times compared to gas. Modified was considerably more. If the stock engines were producing, say, 6.5-7HP, then the modified engines were probably in the range of 20-25.
The engines DID run cool at anything less than full throttle. I ran a few road courses, and for the last few races, I had a temp gauge. The engine would run very cool until the green flag, then I'd watch it climb every time I was on the throttle. When I'd lift, going into a corner, it would cool quickly. It would do this every lap, every turn. Also, every lap the temp would be 5°-10° hotter than the lap before. I got concerned a few times when I saw 400 at the end of a heat.
As for lubrication being washed away, you're probably not wrong. Engines were good for about one season, and we were running I/C engines with steel sleeves. I changed oil after every race, and it was always very thin. There was lots of blowby. Didn't much matter, though. Every season, the parts manufacturers would come out with a better, faster engine kit (cam, crank, piston, etc). If you didn't build a new engine with these new parts, you'd be left behind. That's when I discovered that, while cheaper than car racing, kart racing was still a very expensive hobby, and I got out.