I have one of those too. You just gotta love that sled. It responds well to simple mods, gets real snappy but if you're looking for the 100mph mark you need a bigger motor, and don't wreck it buy trying to big bore it. 10 off the head, massage the pistons, and give it 360 degree intake timing, the thing is a gas in the woods. You can put some reeds in it, but it doesn't make that much difference, notching the reed stop does nothing on a cylinder reed engine.
As far as clutching, if you throw a 48-40 in the back and a couple shims in the front it gets good, there's numerous combinations that work well in it. I ended up with stock Viper weights in mine with a roller secondary. It needs to run at 7800, no more or it falls on its head.
On really good hard pack lake conditions that little bastard will always run in the mid 90's, then we tried to make it go fast and can consistently run 99 and change, saw 99.7. So then the mission was 3 digits, put twin pipes on it, clutched it, geared it, no faster, thats all there is.
If you decide you don't want it let me know.....