Well, while cleaning the 201T, I ended up filing the key on the fly wheel down until I had about 5-9° advance on the timing. Then, worked on the carb and drilled the muffler. It runs A LOT better now, though it's still not a Husky. It did pick up a good bit of throttle response, but far more torque. I think I may enlarge the holes in the muffler a tad more, ensure that I do actually have 10° of advance and tune the carb a hair more and then I'm satisfied.
I also shot some crappy video while noodling the two rounds of Hedge:
I still need to pop the fly wheel off and retard the timing a bit, but last time I tried, the flywheel didn't want to come off, after tapping it well with a rubber mallet. I might need a puller for that sob...