hey carl,
sorry for the whole discription but I didn't know your experience level so thought it would be best to start at the begining.
I can't tell if its the right flywheel as I dont know what car it's going on but unfortunatelty it looks like it doesn't come with a collet as I can't see one in the pics.
without seeing pics of the back plate pull start etc I probably can't help you out anymore than I have.
but as for pinch some engines can take a lot longer to lose their metal pinch than others for Example my first GO tech took over3 gallons before it stopped getting "stuck".
Adrian