Right update, after replacing all the pipe work, new felt clunk, 2 new carb gaskets, new nylon carb spacer all sealed with copper high temp gasket sealer, it has done the trick .

Primed up well,carb choke closed and coughed with ignition on. Opened the choke and two light flicks later sprang right into life.
Well pleased.
Still chucks out a bit of oil but I'll live with that. I will get a different prop or two for a trial.
Thanks for all the help.
I used Castrol Power 1 Racing fully synthetic oil. Got 1650-1700 on idle and 7200-7300 WOT. 32:1 Ratio mix.