Thanks for your help so far BB - very much appreciated indeed.
To answer your question: I filed back the key and placed the clutch onto the engine shaft, securing it with the screws (well, the one that still bit). With spark plug out, pulling the starter slowly shows the clutch with some wobble in it, perhaps 3-4mm of wobble.
I then took the clutch off and pulled it apart, finding the cork in very good condition. I cannot seem to remove the thrust bearing though, and turning the bearing by hand, it spins quite well, but is rather noisy. Should I be able to remove it easily?
My thinking is I will need a new 3/4 inch (that appears to be the diameter of the engine shaft) clutch half, new thrust bearing, new plastic thrust pad? Anything else I would need?
I'm still not really sure where my original 'screaming' noise would have come from, perhaps the thrust bearing?