In case it helps anyone, I took photos of the M-25's decompression lever, and tested starting and running my engine in two lever positions. These pics are from aft, looking forward (actually, it's my 'spare' engine in my garage)
- lever at 90 degrees (3 o'clock) position - fixed position
- lever at 45 degrees (1:30 o'clock) position - floating position
- lever lifted to vertical position against the spring tension - decompression position
My engine starts and runs normally in either the fixed or floating position - no noticeable difference in my observations
** Do not try to lift the lever to the 'decompression' position while the engine is running - one immediately feels a rapid bumping sensation through the lever.
I didn't try to turn my engine over in the decompressed position. The bit of string that's still on my spare engine's lever gives a clue to how one might turn over the engine from the start button in the cockpit if you don't have a helper by the engine.