I got a 79 50V a week ago and I had to fix the pulley sprocket by pinning the lever that engages it so it would stop jumping. It runs well now except I can't get the lights to work yet. First thing, imo, is to give it a thorough inspection, especially the plug and maybe take the muffler off and check the outlet port. Spray a little wd 40 in there and turn the engine over. Put fresh gas/oil mix in and see if it turns over. Anyway, I'm in NJ - too far to help in person.
Another potential problem that I have is the fact that I got the ped with only a bill of sale. I think I'm gonna have probs with the NJDMV getting the thing on the road here. Did you get any registration info with your peds? Thanks.