Yes, the ferrarri is THE most impressive engineering model I've ever seen. I saw the top gear review of it some years ago, and just couldn't stop giggling in amazement through the segment. The sheer skill involved is beyond belief.

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2) Is there provision made in the ignition system for spark advance as engine revs increase?


Yes, it's done electronically via the ignition units, which are ones designed for model aircraft spark ignition engines.

pca
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Experience is what you get just after it would have helped...