The picture is of an iron piston set up and in many circles, including my own experience, this is a preferred engine! You got the good one! I've run 9 X 4's, 10 X 4's, 9 X 5's wood and composite and the very best is the one YOU like the most! The iron piston versions should receive more oil for longer lives. I suggest you go with about a 25% total oil ration weighted more toward the castor oil side. A good mix an old friend and i settled on was 7% Nitro, 22% Castor oil and 3% Synthetic. just from my own experience with these combinations! This blend works quite well in the warmer months. I also support the the standard venturi needle valve assembly suggestion. Jim Lee of this forum could make one for you as well as many others who own laths.
Where do you live and fly?
Phil Spillman