Got an early '60's 5.5hp, runs relatively well with no major issues....except at low revs there is a noticable knocking or loud ticking noise. I can dial it out mostly on the high speed nozzle. I've checked to see if the coils are catching on the fly wheel and all seems ok even after ' re setting ' them. In the good old days it sounded like the engine was pinking but I'm not sure 2 strokes do this. Also when running at very low revs the magneto plate moves slightly and the cam opens the throttle linkage thus increasing the revs, only slightly though. Are the 2 faults connected ??