Fix what you've got, it's a way better engine than a Gy-6 will ever be! The Helix engine may fit...but would be a lot for that frame. These are scooters btw, you would get more educated advice on a dedicated scooter site, I love both mopeds and scooters, but many here do not share my view. Is your Elite a 2 or 4 stroke? Both are marvels of Honda engineering.