Yep, had it all to bits today.
There's no sign of leaks anywhere casing all as clean as a whistle. The gasket under the carb box was bust though and one of the carb studs came out with the T nut. I've replaced the gasket between the carb box and the reed block and the one between the carb and the box, also loctited the stud back in.
There's no hole in the reed block for the carb box screw and I don't know if the airbox is original to the LML casing or not, it came in the box of parts. There doesn't seem to be anything that holds it in place other than the carb T nuts. Also the auto lube is done away with.
Anyway, replaced the spaco 20mm carb with a proper Si 24/24E.
Found that the throttle cable also seemed to be too short, even with the adjuster screwed all the way in the slide wouldn't close properly. Took the locking nut off and screwed it right in and it snicked shut.
Re-jetted it with some jetting I found on here for a malossi 166, slow running 55/160, 140/BE6/122. This got it up and running better. It would tick over with the choke on, adjusted the mixture screw out , by about 4 turns, and got it ticking over nicely with the choke in. Much better.
Took it out for a blast on the bypass, it just wants to rev and rev, almost like a double power band it goes and then goes again, left the brothers P2 for dead.
Much better now, will need to monitor the jetting and going to get a SIP fast flow tap.
Thanks for all the advice.
Tracing airleaks
I have just fitted a Scootopia fast flow tap to my Vespa.Much better now, will need to monitor the jetting and going to get a SIP fast flow tap.
All good so far, will see this weekend how much better it runs when on the lower part of the fuel in the tank.
When I took it apart to compare the internals of the tap with the one that was fitted, it was huge inside.
Should help my low fuel running issues

done a few LML vespa reed 177/166 motors now, all have went well. nice cheap conversion ...barrel kit, 24mm carb, SIP road or Sito plus, bit of jetting ...LML dealer round the corner ..... 
