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i owned 2 of the later model fs1e they were called the fs1, the first one i had was a field bike it had 5 gears all down and it use to do about 55mph which is scary on one of these things trust me. Then i bought another one for the road but it was so slow 40mph down a hill and well walking speed up it this one only had 4 gears (speed might have something to do with my weight) both of these bikes had dodgey clutches that i replaced but they still wernt up to much my friends got one and his clutch is crap. Second hand parts are hard to come by and new parts are exspensive. trust me these bikes can pull masive wheelies if u have good balance at about 10mph (go on laugh) but the forks will soon need replacing if u do this as i found out the hard way. if u are looking for a cheap learner bike to get around on buy one.
FS1E Fizzy - Advantages: Faster than any post 1977 50cc , Road legal for 16 year olds due the fact that it has pedals (LOL), A real bike better than a Barbie Scooter - Disadvantages: pre 1977 models use premix, Engine looks a little small, Can't think of any more.