Dang cam, I like it, also add an ice chest down there with beer and (ice) route the intake air through the top of the cooler (intercooler?) and then through a small air drier (maybe) and you got one awesome cold beer air intake
but the oil all over the beer might not taste very good!
Nice old Ruttman .... I know a couple of guys have those bikes, pretty solid little runners. Are you going to power it with the pb engine, or go for a Briggs&Stratton or Honda clone? (Hot tip: if you do the trailer for hauling around your intoxicated buddies, the bigger engine and clutch means more torque for hauling power ...)
Make sure you throw a big bore kit on it ... you'll enjoy the extra power.
And I would do the sidecar or trailer bit, anyway, just to be different. I saw some guy cruising around one of the fairgrounds on a little minibike like that with a custom coffin sidecar ... wish I'd had a camera at the time.