046s usually do not have limiters on the carb but check to make sure. If you modify the muffler, you will likely want the Hi to be 1+1/8 to 1+1/4 turn out. Err on the rich side and know how to tune a carb. If it turns that far out, you do not have limiters!
For 046/460s I often just drill 2 - 1/4" holes in the top right of the muffler cover (mark where the exhaust will not directly hit the saw). Drill as close to the seam as possible. Remove the cover before you drill and clean all filing before putting it back on.
That and adjusting the carb (richer) will give you noticeably more power. (And your saw will run cooler and last longer). Just make sure you run good oil and mix as you will put more stress on your bearings (I like Amsoil Saber at 40:1).
If you want to go further and do a timing advance, you have to pull the flywheel and file the top part of the key (the right side). .020 will usually give you about 5-6* additional advance. (search videos on how to do it). This makes more difference on some saws than others.
Next step (W/O porting) is to check your squish. Pull the plug, insert some soft - thin solder on the side (in the squish band) and pull the saw over several times, then measure the solder. .020 squish is considered ideal. If your squish is too thick, you can improve it by .015 to .020 by pulling the base gasket. You will then have to "glue" the cylinder down after thoroughly cleaning both surfaces.
I did these things to my 10mm 044 and it runs stronger than many fully ported 044/440s. Your results will depend on your cylinder's porting from the factory.
I have built many 044/440s and 046/460s using these methods to make saws that run notably stronger than stock. The next phase is learning porting, and I suggest you buy one or more Asian cylinders to learn on if you do that. You can do some mods to intake and exhaust ports with just files. (I have even used round chain files in the corners).
