well, no...r/c racing fuel is 20% nitromethane and it is closer to diesel fuel than it is to gasoline.
to run nitro, you need a heck of a lot of compression and a major ignition system to fire the nitro. r/c racing fuel is not like the nitro that is used in a top fuel dragster.
r/c nitro has a lot of oil content and an r/c engine fires the nitro on compression, there is no spark plug. (like a diesel) it has a glow plug with is there to heat up the cylinder not so much to ignite the fuel. these little engines don't have a ton of compression, and all you need is 87 octane gas. even if you go with a hig compression head,k the compression still won't be high enough for nitro.
if you want low end torque and decent top speeds, you should consider going with a shift kit, milling the head,(or go with a high compression billit head) putting on a cns type carb, a billit intake, port and polish the intake and exhaust, an expansion chamber, upgrade to an 8 mm spark plug wire with a rubber boot, an ngk spark plug and a high flow air filter. and if you still need a little boost, you could put a nitrous kit on it, but i'm pesonally not sure how well they work.
there are a lot of things that you can do to these little engines to get more power out of them.
you can increase your top speeds by going with a shift kit. a shift kit will give you the best of both worlds...low end for take off, and top speed. i think a shift kit or gearing (for single speed bikes) is one of the simplest ways to get more speed out of one of these engines. but if you just change the rear sprocket to a smaller one, you will lose torque for take off. that's why i mention a shift kit. besides, what can be cooler than banging through the gears on a bicycle with an engine on it?
I like what your thinking tho, and a drag bike would be awesome looking if it's done right.
so, i think you would be able to give the engine some more power to go along with the drag bike looks, but don't expect too much out of it. I have heard claims of bikes being able to go 52 mph with shift kits on them, with stock engines, but i have no idea how true that claim is. you should also consider a major brake upgrade too if you are planning on trying to get into the 50 mph range. disk brakes would be the way to go.
I want to build a drag bike too, but i want to do it with a stretched and lowered 20" frame.
I'm not an authority on this subject, i'm just offering some suggestions based on things i have personally done to one of these engines, and things i have read about.
