I dont see any reason why it wouldnt run but tbh its too much of a piece of actual history to risk damaging. Still has the original, handmade spark plug. I visited the australian science museum and saw the one they have there when i was down in Oz a couple years ago, got talkin to the chap who looks after their engineering section. Belvedere smith is a bit of a historical national hero down there.
Ive got an Atom III hydro engine as well, the 30cc 2 stroke designed by ET Westbury. A lovely thing, like a small motorcycle racing engine. It needs a new carb and disc valve machining up and a repair to one of the cylinder studs but im hopeful ill get that one going at some point.