I bought the bike for a project, so i just rebuild the hole lot, i dident realy notice oil on the exhaust cause i only went for a spin around the yard, but it seemed ok, but i just rebuilt it to be sure, air filter is clean and brand new, reeds are good, not sure wat to set the float at and wat to measure off? Mixed at 32:1, when u say leak down test do u mean compression test? I dident do dat cause wit everthing new i though it be ok? It runs perferct dont have to use choke to start, the only thing i noticed was behind the air filter there was a bit of oil, kinda gold in colour, its not the 2stroke, cause the one i use is blue. Just the spitting oil and different plugs is my problem,