Hi Paul,
Yeah, I would say "something" needs fixing. You have the engine apart, so might as well do as best you can to make sure the "guts" are good.
I am sure you checked the NVA or replaced it. Funny, but I have seen that, and nothing else done, "fix" an engine, but who knows!
One of the guys at Huntersville a couple years ago couldn't get the engine to run consistently. we took it over to a table, pulled it off the plane and I tightened the back plate screws first off. That was ll it took. Of course it was an LA with a plastic back plate so that is the first thing to look at with one of those. Sometimes it is a head scratcher, for
anyone. Aaron had a "special" OS .40VF on pipe at his first NATS. It ran perfect here the day before we left. Second practice flight at Muncie it flamed out in level flight RIGHT BEFORE the reverse wing over. That continued ALL DAY! You would not believe all the guys who tried to help fix it. Bob Gieseke, Bill Rich, Mikey Pratt, Dave Hemstraugth, Randy, Billy, Ted, Windy........ new plugs, new tank, and the list went on. If it could be changed, it was. Bob G. even gave Aaron his turn on a circle to test fly (and he did it in a very funny way! LOL!!) 10 hours, multiple efforts, never "got" to the R.O. 4 or 5 laps after launch and land! We DID have a spare engine at the hotel, so the next day things were perfect (with the spare engine that is!). The first night, Billy took the engine held it up to his ear and said something to the effects that something sounded funny. I handed the engine to Randy to take home and see what he could find. WE got it back in the mail a couple weeks later and it never had a another problem! (and still don't know what he had to do to fix it.........but I think a bearing had starting going bad for whatever reason) Geee.............. engines sure can be FUN!
Clean all the carbon out, make sure everything is put back correctly, and make sure the BP, NVA, and head seal. Might throw another NVA in it if you have one. If it has good compression, good seals, good NVA, good glo plug, good fuel (and all else that goes with the "plane setup"), it should "run good". If anything is bent (crankshaft, rod, etc) or the NVA is bad (bent, not sealing or not sealing to the case), or there is a leak somewhere, all bets are off.