I have come across that before pull the fuel line off and either nothing comes out or just a dribble of oil and when you remove the primer cap it is full of oil.
Sapper as you say you got the deal of the century. That mower shop in Bankstown are nothing but a bunch of mongrels, the last of those Victas were selling for $599 and the fact he had not mixed the fuel and just put oil in first shows they did not give him any instructions on anything to do with a 2 stroke. I am disgusted with people like that but you had a good win congratulations and get rid of that Tornado before it rusts out