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This is all about the old saying: "Speed costs money. How fast do you want to go?"
-- First/easiest/least expensive step is to make sure your engine is tuned to spec. A PerTronix Ignitor gizmo will help here because you don't have to recheck the timing as often.
-- Next/less expensive step, and you're halfway there: Improve engine breathing by installing MSS or other performance exhaust, which you already have, and adding 2-barrel carb and manifold. A progressive carb is good for street driving -- you get good low-speed throttle response and increased power compared to your 34mm Weber. With my setup I notice it most from the midrange on up; makes a noticeable difference when pulling out to pass on a 2-lane highway, for example. (For track use you might want to go with a non-progressive 2-barrel or the larger 43mm single-barrel carb that MSS sells. I've never tried this option so don't know a lot about it.)
-- From there it's a question of how far you want to go and how much you're willing to do/spend. I haven't ventured into this territory much other than research, because it seems like a matter of a lot of effort for each small increase. But again, it's mostly a matter of improving the breathing (porting the heads, larger valves); increasing gas flow (changing the cam plus reworking the valve train with lighter pushrods & lifters to tolerate higher RPM); and/or improving thermal efficiency (higher-compression pistons) plus all the stuff you have to do to make the engine hang together under the increased strain: higher-quality internal components, more careful tolerances, balancing, higher-capacity oil pump, cooling system improvements, oil cooler, etc.
If you look at the 'Directions for Competition Modifications' in the old Saab Sport & Rally manuals (available online in various places) you can get an idea of what the factory did to make these engines put out up to 160+ horsepower; there was a LOT of detail work that went into the durability angle.
I guess as an alternative you could just plumb in a nitrous system, but unless you address durability you'll be rebuilding your engine a LOT!
PS -- Don't forget to ask yourself how you're going to get all your extra power through a transaxle originally designed for a 25hp two-stroke engine...
posted by 68.13.13...
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