Check out Garellis. That general looks exactly like my brother's old Garelli. Thing was a nightmare for electrical problems but in the end he sold it for $600! WHen it ran it was brilliant. When it didn't run it was a pig.
I doubt you'll find a cheap Garelli motor. Maybe you could retrofit a Tomos or puch? Much easier to work on once you get the carb and points worked out.
My advice about rebuilding this sucker - put it in a bucket of some kind of cheap penetrating lube NOW and wait a week or so. Those fasteners wander all over between HARD and butter soft. Also, you will NEVER be able to drill a hole in the crank with your dad's electric drill.
A reed valve and 70cc kit for that machine will make it crazy fast - like deathwish fast. Tuned pipe is your first mod though after you get it running.
FIRST I would call THESE GUYS though:
http://www.1977mopeds.com/They were some of the original moped army chums before it got huge, now run a business. Guy who knows everything is probably Dan Kastner if you can get him on the horn. Tell him a kalamazoo native gave you the heads up.
