Don't worry about bubbles in the fuel pipe, unless you have an in line filter added that is.
It is really hard to diagnose issues like this over the internet. But if you are happy that your timing was set correctly (I'm assuming you have electronic ignition?), that you have a correctly gapped plug, that your air filter is clean and that you have no air leaks around your inlet or exhaust manifolds, then have a read of this:
http://www.lambretta.co.uk/downloads/carbsetup.pdf
Whereabouts are you?