Time for an update...
I needed a few more bicycle rims for my buggy, and I found a guy on Craigslist selling 15 bikes for $100. So I went and got them. It worked out pretty well. I got several 48 spoke rims which are a little stronger then the original ones I had. I also got 6 good tires and tubes. I would have spent more then $100 on tires and tubes when it was finished, so I am already saving money. I will be able to use the cables on the bikes too for breaks, throttle, ect. He also had two radio flyer childerens tricycles in the group that I bought. I will be saving the red one for my son for his first tricycle! I tried to take a picture of all the bikes, but I would have had to open the garage door to stand back far enough and I was lazy so I just took what I could.
I am still waiting on the funds for my first welder, so I decided to tear apart the Chinese quad and get it ready. I took the time to clean everything up a bit on the engine and label all the electrical connections.
I finally figured out a way to adapt my bicycle wheels to a 3/4" axle. I found an instructable from a guy that did almost exactly what I was thinking:
http://www.instructables.com/id/26-wheel-upgrades-for-pedicabs/