It sounds like you are only running on one piston. Very typical symptoms to not have enough power to take off except on a jack stand. Couple with a flat sound and I say ding, ding, ding. Now to the why one cylinder is not combusting. Does both sides of the manifold get hot (equally) when you first fire up the sled? The side that is colder is the culprit with the carburetor problem.
Starts great suggests the seals are working and there is no air leak. Change the seals or you risk not having a sled. It cost less to change the seals than buy a cylinder and piston. Don't change the seals and you may not get to ride your sled very long, then maybe.