Been thinking about this a bit and this is what I recall.
--Of course the LED will be wired into the ignition, don't recall how. This means that there is a specific (and expensive, $130!) coil for the redlight special.
--Flywheel is different and will be all metal.
--Different crank, smaller flywheel taper, smaller flywheel nut, smaller flywheel-side seal. PTO seal is the same. Don't ask how I know.
--As you already know, no decomp.
--Main bearings are the same.
--My muffler was already dual-ported with a factory cover. I don't know if it is original.
--From what I was told, redlight specials were sold as Magnum 066s.
In all, a very tough saw to beat. I do love using mine, though I drained it of gas and put it up for awhile.
Chris B.