i don't think your nuts at all because alot of what you've just said i already know and agree with the theories, especially the oil one, i just haven't been too keen to go super lean on the oil yet as im still tuning it so i don't want to seize it up ... but i will probably go 40-45:1 soon as with the 35:1 im using now its still a bit more smokey than the petrol 25:1 was ....
i have the advanced timing key already in there along with the different plug, however im not sure about its heat range, although i can tell you that after a long run on the bike i can pull up and hit the kill switch and it will keep running for a few seconds (all be it rough) so i usually let it idle for a minute or two before shutting it off just to let the plug cool off. i can only imagine it as a red hot glow plug
i have removed half the fan blades but i think i will leave the others there for idle cooling purposes.
so far it hasn't yet run really cool, but the carby is

... my pipe is still original chrome colour whereas my mates is a browny chrome colour which tells me his is running alot hotter than mine .... mine is still too hot to touch for more than a split second ....
i agree with methanol being a fair bit dearer for the same distance ... i get it off a mate for $1 per ltr and so far haven't had any problems supply wise so im happy to do that for the time being, and the smell when it burns is just magic! reminds me of the old speedway ... i wish they never bull dozed it!
a bit more tuning and i should be happy with it, next on the cards is to take to the expansion chamber with a grinder and oxy to see if i can't 'tune' the pipe to better suit my needs ... currently its like two funnels butted together, im thinking a bit of a straight piece in between them should give it a bit more ommph in the mid range! but i still have to do some calcatrons and measurements before i go and do that!
thanks for your thoughts crash dummy, its good to get another persons views on it and stuff!