I am currently replacing the old (1999) rotax UL with a brand new one. If I am going to do anything, now would be the time, but I'm in the pigs ears club myself. There are about 18 minor mods to the engine to make it fit the model IV cowl.
1.swap manifods, carbs, change water coolant exit elbows, move the spider, cut down the oil reservoir etc. etc. I am adding an EMS 10 to monitor engine stuff. I could have BUILT a plane by now. I"m making a list so the next poor dog has a clue.