"malossi reeds were a big waste"
^did you try different reed thicknesses? Maybe the ones that came with it weren't suited to your tune?
I'm sure the V3 would give you a LOT more airflow though, as it's 8-pedal instead of four. If they're spec'd for a KTM 80cc or so, then 1hp for a Puch Gila probably wouldn't be too far off. KTM transfers are WAY huge though, so I'm sure most of that power gain comes from simply moving more air; and I'm not sure if the stock Gila reed system is really that much of a bottleneck. What is the mfr specified power rating on the Gila, anyhow? Did anyone ever figure that out?
That said, I really want that V3 to kick ass, it's too awesome not to.