The place up the road i get my bearings belts and orings from have some cheaper brand of carb cleaner that does a pretty fair job.
Some of that, a small flat blade screwdriver a tooth brush, some pokey things and get to work.
I think the biggest problem you will have will be getting the carb to seal back on the tank. Thats the issue i had with the last one i tried. Its still up the back of the shed in the 'problems for another day' pile. Motor was off a Rover side throw and going on a compost Shredder but i turned up another shredder so i set it aside.
If my memory is right the shaft is 1" that steps down to 3/4 at the end.
I do have a Colt here, the chassis is drilled to either the 5 or the 8 hp motor will drop straight on it.