Re: Just bought a '96 Tomos LX TT with 307miles!
Yeah, a pipe will make a very noticeable difference to your performance. It's definitely the place to start. If you decide later on you want more, you can go with a kit.
I couldn't advise you on what jet to begin with, but here's the moped tuner's spreadsheet break> Just go under the tomos tab at the bottom and you may be able to find a similar setup to what you want to run, and some jetting recommendations.