The simple way to think about the magnet is the notch for the woodruff key should be at 1 o'clock not 11 o'clock if you hold it with the notch at the top. We got a weak batch of magnets one time and it was **** to figure out so I learned these pretty well. Everyone has told you the right way to go so far. You are almost certainly facing jetting issues. These motors change drastically over the first few hundred miles so set your goal to make it ridable for now. You can not get the jetting spot on because it will change that much as the rings seated in. Follow all the tips here for soldering jets and tuning. One other tip I will throw in if it will fit your manifold. Pick up a new NT carburetor and try it with the needle full lean or one click from full lean. This may be a simple way to make it run pretty well across the rev range thru break in. If you are new to these the NT catches a lot of flack but in reality is simple, easy to tune, diagnose, cheap, and having it to slap on there will give you a baseline and diagnostic tool for chasing problems. Good luck, keep is posted and most important, HAPPY MOTORING!