Coopers, lifespan of the 207cc depends on a few obvious things, like most small engines, in particular regular maintenance and good clean fresh fuel. As for the rest, it's in the hands of the almighty, or more to the point, who you lend it to.
My dad has one identical to yours and he's had it since new and hasn't missed a beat. Victa used these engines between 94 and 96 before either reverting back to or sticking with the Quantums.
Grumpy, like Jaffa said, the primer is remote and requires the front gasket to be in good shape to prime effectively (similar to a "later" model Quantum. As for the fuel, only time will tell, the low price of these units is possibly due to the American consumers rejecting these carbies as they may not be compatible with the gasohol etc, but still a win for the Aussie consumers.
The only minor compatability issue with these carbies is that the aftermarket one does not have the breather port drilled into the body but that could easily be routed to, and tapped into, the back of the air box or left to vent to atmosphere.
