Just wanted to let you know if you didnt know, the air filter has oil on it by default, so what you are thinking is gas could just be oil. If you decide to clean your air filter you will need to re-oil it.
Also if you're wondering the bolt size for the pto shaft on the predator it is 5/16 -24, and probably about 1/2 and inch long. Also if you dont already know, which it seems lots of people dont, the shaft will not take a 5/16 bolt, it needs a 5/16 -24 which means that the bolt is fine threaded. You could easily order one online or just go to your local ace or some thing, but some stores like home depot, etc, dont carry fine threaded. I think lowes does though...
Now the engine does not need to be re wound, but if it is placed with a seat in front of it, its going to be impossible to start,

The preadator has to be the easiest engine to connect a throttle to. It will take you 2 minutes. There is a nut with a hole in it, and a screw in the top, you will put the cable through the nut and tighten the screw onto the cable. Then there is also a little kind of housing think that you can tighten down of the outer part of the cable to keep it from moving. It is very very simple.
Another note for you is that the engine may run for a while but if you're driving it pretty hard with sharp turns, etc, it might stall after a couple minutes and not start for a while. This is because of the low oil censor, when you're driving it like this it throws oil all around in the engine and the oil censor thinks that the engine is out of oil. You can simply disable this by unplugging one of the wires by the kill switch or some thing, i haven't dont it yet because it has not happened to me so far on my projects, but that is no worry now, you can easily look up how to disable the oil censor on this forum and im sure their are threads on it.
Last thing is you say people have idling issues, kinda disagree with that one

haha
Well i personally use these predator engines because they are cheap, and if you treat them well they can last very long, but if you dont treat them well, its no big deal because its cheap for a new one. I do have the predator 212 on my mini bike and the predator 79cc on a scooter that i have, and i have never had an idling issue. They will pretty much always work out of the box for a while, and they might need a simple tune up later. But i think you are talking about a while ago i had seen some threads about people saying they were not idling right and the idle screw wasn't doing anything, im pretty sure that was an old model of predator but i have not seen any idling problems besides that.
Well i hope that this has helped you

It all may sound very confusing at first and you might think that this engine will require too much work, changine idle, disabling oil censor, re-winding,etc. But i can gurantee you that it is very easy to browse these internet forums and learn it all very quickly. Heck i just got into this stuff a couple of months ago, and i have already built a gas powered scooter, and a mini bike, and MORE coming! I think that the engine you have would probably work, you might just have to browse around these forums for other people carbeurator issues, each time i click on one of these threads i swear i learn some thing new

But if you do decide to go predator, its no biggy, but i would suggest waiting until you have some time to put into the old engine, if you want it fixed asap and dont want to work on the old engine, then go ahead get a predator for 90 bucks.