Hi omah:
I'm currently working on a mini with a Honda GXH50. This bike is from scratch and is roughly half way between a "full-size" mini and a Tom Thumb.....kind of a unique design (if I may say so myself). BTW, this engine winds close to 8000 RPM so it must be "tamed". The way I'm doing this is through the use of a Grube G4 transmission with the 4:1 ratio pulley option. This transmission is generally used on powered bicycles and comes with the clutch. That ratio winds-up turning a 10 tooth #415 chain sprocket. From there I'm running a 24 tooth on a 4" rear wheel with a Kenda 9x3.50-4 tire. Looks like a net of about 25 MPH in the end. Time will tell, but I think this may turn out pretty feasible.
Keep in mind that with this motor, you've got to remove the governor and make a small throttle control plate with return spring. That said, so far I haven't found that to be a problem. I did get quite a bit of information by going to the Motorized Bicycle and Goped Nation websites some time ago. Problem now is that the Goped Nation site has apparently been discontinued. Do a search on those bicycles and gopeds and you'll be surprised at how much info you can get on this engine. Good luck.
All the best, Henry