I did as you recommended and true to what you initially thought, the sound was coming more from the lower part. I have subsequently taken the bike to my local garage and they suggested adjusting the tappets, since they do sound slightly out. They also mentioned fiddling with the "commander" and going from there. The rest of the sound is apparently normal for this engine as its a noisy one in general (identical to the one used in the XLR, similar build to the CG engine). I will pick up the bike tomorrow and let you know the outcome and improvements, if any! Will post another video too to compare. I've never owned a 125 that is essentially 18 years old now. It amazes me how the thing still goes and is much nipper than the newer bikes/scooters I've had!