Well, I took apart the original 46cc engine. This one has very good compression and the bore, ring and piston look really good. The ring, groove and piston top had a fair amount of carbon, probably from running TCW-3 oil for a while in the past, so I cleaned that off.
The piston does not have the cut out on the side to allow better access to the transfers, it's basically a slug with the skirt cut up a bit. The transfers are 1mm lower, I assume for better torque/compression, and without the piston cut out they are effectively longer. They are a little wider though with the smaller bore. The cross section has a similar hook-shaped profile on one side, I assume so that mix pushed ahead of the crankshaft counterweights is captured in the transfer runner groove. I left all that alone.
I did a very mild port, primarily on the exhaust to remove the ridge where the steel insert went:
It's still only at 54% of the piston width. I did a little on the intake as well, but still conservative (the area of the intake port is so much larger than that of the carb already):
Then I sealed the carb adapter plate to the rubber seal in the carb mount with Yamabond - the rubber seal is a little distorted and I never liked how it fit. Plus this will make mounting the carb easier since the metal plate won't keep falling off.:
Last, I used some Ultra Copper RTV to seal the heat shield to the exhaust port since the upper part of the flange has such a narrow sealing surfact:
I'm hoping to put it together tonight. It will be interesting to see how it runs compared to the 49cc engine. The porting is not too different and the ignition timing is the same (advanced about 6deg).