Thanks for the informed comments, Danny - very helpful.
I'd use a performance car air filter - very cheap on ebay. and for my old and noisy petrol concrete mixer, I used a Kawasaki ZX6R standard motorbike exhaust, to which I welded up an adaptor to go around the old exhaust outlet pipe.
Thanks Ivan - I don't have welding equipment (or experience!), but I expect I could find a fabricators locally who might oblige. Definitely worth pursuing. I'd like to avoid cutting up the body work if I can, but it should be workable.
if it's starting easy enough and running the points and condenser may well be OK.
Hi Paul! It starts brilliantly - but tends to run out of puff when going up hill. It also has a tendency to stall when up to temperature/hot (after 10-15mins of labour)
I'm not familiar with the G40 but have had quite a few of the later G125s and G200s on diving compressors etc and I think they're pretty similar apart from electronic ignition.
Yes, the internets seem to agree! It may be worth a punt on some G125/200 spares to see if they fit
If the noise is not just the exhaust and is a mechanical noise then it's probably shot as they have no bearings as such on the con rod and just rely on a splash feed via a little prong on the big end cap. Still, it would be worth removing the cylinder head and having a look at the valves and head gasket as they are prone to blowing and making a noise, being a side valve it's pretty straight forward and the valves may well benefit from a lap. Not sure if you can adjust them on the G40 but you can't on the later models, so basically you throw the engine away when it's done

It's hard to say (I'm deaf). I'm told that in addition to being noisy (and the noise may just be down to poor exhaust & poor mounting - it's mounted on two wooden blocks onto the metal chassis!) there is also a 'hissing' noise.
Having said that, they do just keep going and going and are probably the best wee stationary petrol engine on the market.
If I can get it going properly, I will!