It sounds like you have the start of a very good racer. The clutching and gearing of the machine is just as important (maybe more important) than the engine. The 910 is a great clutch, although it's not as easy to tune as a Comet 102C or 108C. I don't remember what the gearing was on the Colt. What you're looking for is about a 26 tooth driven sprocket.
Good Luck!
Stuck in the seventies- not in the swamp.
(6) Attex, a Hustler, a Super Swamp Fox, (2) Tricarts, (3) Tri-sports, a Sno-co trike, 3 Dunecycles, and a Starcraft! ...so far