Hi Troyboy,
Mine did not idle when I first fired it up. I spent yesterday seting the idle mixture and idle speed. After I got that done I found out that it would hardly pull itself. The more throttle I gave it the worse it would run. I ended up reseting the main needle valve in the carburetor slide to the leanest setting. (Top groove on the needle) This made a big improvement but I could only get a top speed of about 28 MPH.
I am afraid it sounds as if there may be some serious problem if yours is spitting oil out. Anyone else out there have any suggestions?

tbirdguy