See supernova's reply.
Add 14cc head from a GX 160 clone ( 5.5 hp )
Aftermarket air cleaner and velocity stack.
Header.
4 deg offset timing key
And reject the carb as required ( 91 jet is probably all you need )
See the cheater spring mod to keep you governer but allow you to rev to 5000. At that speed your stock engine will make the power you want. Increase spring tnsion on your TAV secodary to keep it from shifting up too soon and you will make better use of the modifications sugested.
Search these sugestions lots of good info posted ( and I have typed this combination a lot lately, it works )