My "semi-build"--am taking over a more or less assembled project that needs to be reworked--has a centrifugal clutch run via belt through a jackshaft arrangement and ends up driving a chain leading to the five-gear hub and original derailleur. The former owner said it would not go above third gear. When I test rode it I never got it that high but it did shift under power just as a conventional bike does while pedaling. It was so unsteady that I was afraid to try to run it out. It balances quite well, but was riding on 26 x 1.25" touring wheels which were completely out of true (most of the spokes are actually loose). I changed the wheels out today for a set from a mountain bike I've had laying around for a while--those are 26 x 2.5". NOW it feels like it'll hold onto the road.
I am planning on building the engine also. Right now it is completely stock--indeed, it's been run less than an hour. But, first things first: the brake pads are shot (probably 40 year old original pads) and I may replace the calipers with those from the aforementioned mountain bike (considering a disk for the rear but strongly suspect that there's no way to mount a caliper on the 1970s frame). And I discovered today that there's not a single lock washer on anything added during the conversion (owner told me that bolts kept coming loose and seems to have had no idea why). Will be tapping the hardware store's stock heavily tomorrow, I guess. Once I know it won't shake itself to pieces I'll be able to give it a proper workout.
It's very weird--the guy started with an abandoned tandem bicycle and did a remarkable, if somewhat complicated, build (hope to have pictures up soon). But he appears to have given up before taking on the details that will convert it from something to putz with in the garage to, I suspect, a decent motorized bicycle. He bought a brand new set of tires for those skinny wheels which I suspect are not original to the bike (VERY lightweight for a tandem bike), then never trued them or even checked to see if the spokes were tight. Then he bought a brand new engine which he didn't bolt on correctly.
Must say that the jackshaft assembly, etc. is very solid and certainly more than was needed (there's even a spare pulley--looks as if you could hook a saw rig or some such onto it). I got the whole thing for less than he claims to have spent on parts (and should be able to sell the wheels and tires that came with it for something) and I'm a detail person, so....brakes, lights/horn, etc. and then....the joys of convincing the DMV to register it!