Piston every 5hrs might be overkill, when the power drops off, then
think ring or ring/piston. Do open it up and inspect/clean.
Fuel can vary, the club we race at has spec. fuel ( everyone runs the
same and it's tested oxidizers ), it's 1 gal (US) Sunoco blue ( I
believe leaded 108 octane) and 7 oz. Burris two stroke mix.
For the carb the biggest thing is changing the diaphrams and gaskets,
it they are old they will not pump fuel effectivly.
A good site for information is Ekartingnews.com, they have links to good
articals, a tech forum, forums broken down to 2/4 stroke, sprint, oval
and enduro racing. Best of all it's not one of those dead sites with no
action or content. Have Fun!