"...the engine is the only reliable thing in the kit..."
Sounds about right... I have a raw racer 66cc, have had it about 4 months as well, and so far I have replaced the spark plug, fuel line, spark plug boot, magneto, rear sprocket (but not before it tore the spokes out of my rear wheel, so I had to replace that, too), fuel petcock, fuel filter, all of the mounting screws, also replaced the throttle with an ATV thumb throttle, and redid all the wiring everywhere with heavier gauge stuff, and I am looking to build myself a new exhaust pipe and also buy a new carb, so after that, I will have replaced everything of significance besides the engine and the chain.
I also took one look at the chain guard, snorted in disgust, and proceeded to throw it into my "scrap metal" bin. 5 minutes later I cut strips of metal out of it and used them to mount the gas tank because the mounting brackets were too small and looked like they would fall apart in the first half mile. The instructions said "attach the chain guard with zip ties." Yea, that's gonna happen.