So...
The wait was long and frustrating, it always is when you really REALLY want something, but the belts arrived early in the afternoon.
The good news was that I measured correctly, the bummer was that apparently I overestimated the quality (hardness) of the originals.
I ordered 90 Shore hardness, and although both string diameter as well as length were spot on, the new rings were extremely tight.
So instead of both belts driving both pulleys simultaneously, I let one belt drive the waterpump and the other drive the oil pump.
Due to the tighter fit in the pulley grooves, there was no visual slippage, so off we go, fuel, water, oil, electricity and fire it up.
The engine had about 20 or so minutes of runtime previously, and those were a bit interrupted with issues with the cooling pump (leakage, and when fixed the pump turned a bit stiff which killed the original belts).
This first run of today (3rd run overall), of about 20~25 minutes, burned 100 ml of fuel (still 50:1 ratio), and starting with clean sump oil, at the end of this run the oil appeared a bit too dark for my liking, so I changed the oil. There was no noticable oil consumption. The old oil was dark but not black and I did not see any sign of wear particles
The waterpump remained completely dry, and the belt had no issue with the stiffness of the pump, so that was a good thing.
I saw a minor leakage on the oil pump, it's not from the shaft seal but so far not yet identified or remedied.
The oil cooler seems to work, the oil temperature (measured on the oil pan) appeared to closely follow the water inlet temperature. So that is good also.
Total Runtime at this point about 45 minutes.
https://www.youtube.com/watch?v=zrU1uKIq4sYThe 2nd run of today (4rth overall) was about 30 minutes on 100 ml of fuel, because I leaned out the engine quite a bit.
Now the carb started to show the same nasty habits as the one on my gasoline powered Krick Alexandra (see "pleasure and sports boats"), very poor fuel metering capability: Fuel/air ratio remains nowhere near constant over the throttle range, forcing the user to set a slobbering rich idle in order to be able to rev or deliver power. But since I don't want to rev, and I wanted to brak in the engine as clean as possible, I set the mixture as lean as it wanted to go.
Resulting in fairly smokefree running, firing on all 4 barrels and a decent run quality (regularity).
This run brought the total runtime to 1 hr and 15 minutes, and the oil appeared clean enough that I decided to do another run with the same oil
https://www.youtube.com/watch?v=nIBzI1fCJ48The lrd run of today (fifth overall, totalling 1hr 45 min) was not filmed, and nothing noteworthy happened.
At the end of the day I still had a tiny dash of mixed fuel, which brought total runtime to 2 hrs.
During this run I tried to get the lowest consistent run with the leanest possible mixture.
Take a look at the carb opening size... That's a 20,5 cc engine drawing air through that tiny opening...
https://www.youtube.com/watch?v=Yh-zcVJ9ohEI am absolutely happy with how slow the engine wants to go without any modification whatsoever, and it still allows for some static load at this RPM.
Pretty sure it will pull the submerged prop at neutral pitch at this RPM...
The carburettor is going to be a challenge (but I have seen those before) but all in all the engine appears to be quite a strong one.