Hey, Freaky
A nice pair of old skids bikes !!, they would be a buzz to ride and how competitive they would be, in the class you mention, depends very much on the nut holding the handlebars.
To my mind, I would kill for the old 5 stud one with the 22 inch rear wheel simply because of it's historical value !!, it has to be earlier than 1947 when JAPs went to 4 stud
However to race, I would chose the later 4 stud engined one and the motors would have to be gone right through.
Foss