I think I would like some suspension on the front. I don't know if I want to try playing with that for my first bike though. We will see. I like the idea of how the plates work together though, very well thought out. Do you have a bearing where the two plates meet with the rest of the frame? I think I have heard that part called the neck before. Do you get enough of a suspension out of your seat? It looks like it would be fairly comfortable through some bumps.
A wheel barrow wheel! Doesn't sound safe for the 45-50 mph you say it goes. I will have to keep my eye out for wheels to snag for my bike.
I sent the money off to get my engine from Rotore, so as soon as that gets back i will get cracking at the design. Was it the engine that determined the overall length? I am trying to figure out how you decided on your dimensions.
Speaking of dimensions I am 73 inches tall and I don't think I could crouch onto your bike. Could you take a picture of yourself on it? I think I would like to do a similar idea with a single tube being the backbone of the bike, rather than two smaller tubes.
I have two bearings in the neck, I tried to draw them with those small balls on the drawing

It's a very solid neck! The seat is a "Wrights" from before 1940, bought it for 2€, is now on my vintage bicycle:
That seat gives enough suspension for standard asphalt or concrete roads, but don't go offroad
The wheelbarrow wheel is very good wheelbarrow wheel, but it's still a wheelbarrow wheel you know

When I drive without my hands (yes, I can drive with my hands in my neck

Only to say that my bike is built quite good ^^), the front wheel starts to shake at 35mph, we call it "cadans", it's when several thrill frequencies come together and get stronger. Some cars have it too, because their wheels haven't got an equal weight on each point. Try to find a wheel from a real pocketbike, or a Honda Monkey or such. Anyway, big tubes look nice on minibikes I think
The overall length: The only way to strech this bike was to make the central tube, the one where the gas tank is on, longer. With a shorter engine, I could have used a shorter central tube...
The picture attached should give you an idea how to get on my bike if you really want to race
