Those are the two screws that should allow that plate to move forward or backwards or at least pivot. Perhaps there is some corrosion holding it down, but it should move. You shouldn't even need to take off the flywheel if you can find a wrench that will fit under there. If you can't get it to move you could look at removing the armature plate completely and trying to see why it can't move. It is an important setting for fine turning your motor's performance.
It would seem to me that something would need to be done with that cam or roller. Since the roller is hitting the cam "after" the arrow, it not only means your timing advance is off but also that you would not be giving it as much gas as you should, at start up, making it very hard to start. The second issue I would check is to turn the throttle grip full on to WOT. Then with your fingers (motor is not running here but must be in fwd.gear) try to pull back on the carb roller and see if the throttle butterfly opens even more. I would think that with your throttle cam set where it is, the carbs butterfly will not fully open when you limit out on the throttle grip, causing you a limit to your top end power. This test should confirm it. Maybe I am wrong.
The carb butterfly seems to be opening fully as it did before when its wot and in gear. I double check it and it seems ok. I haven't start the motor yet but I'm confident it will start betterI hope the carb. synchronization helps. Any idea if the carb butterfly opened fully the way it was before? I doubt the point gap at 0.018" would have caused a noticiable reduction in top end power, but a carb throttle that does not open fully, surely would have.
I would imagine your motor should be a lot easier to start as well, now that the cam is set properly.
You can check the point settings by using a timming light to check the timming with the motor running if the flywheel has marks for both cyclenders. Hook the light to each plug wire and see if the marks are at or near the same spot on the mag plate as they should be when the plugs fire. I have had to set used, and new, points at diffrent gaps inorder to get them both to fire at the same spot and time on the timming marks. If both plugs fire at the same spot on the timming marks, then the motor should be at its best performance when all is done. I belive Leeroys ramblings tells just how to do this the best. It will give you an inducation of just how bad the ware ring for the stator plate is also.JMO
Oldman570
The Champion number of UL81C is the main determinant. Did you try to start it with the NGK plugs AFTER you re-set the cam? The way it was before, I would imagine you would be pulling the starter rope quite a few times with any spark plug. It just wouldn't have been getting the proper gas for start up the way it was set before, in my opinion.
In any event, if it worked fine for you with UL81C plugs then use them. Good luck and I hope it stops raining for you soon.