If you have a read through some of the build threads, you should be able to get a decent idea on the kinda mods all the guys and girls are going for. From there you will need to just find the parts to suit your engine, being a Lifan, parts are fairly common and easy to get.
As mentioned above, throw up some pics and give us a look!
not quite.. and when you do start pumping some serious power out of them you start having problems with clutches.. there doesnt seem to be anything available off the shelf to fit in the 125's to handle decent power
not to mention cranks have been known to fly apart lol.. not often but it has happened..
For the price it would cost to get a 125 to the power of a 160. you could just buy a 160 and it would be a lot more reliable. But if depends what your going for.
It will be a better engine all round, stock it will still have more power and will be reliable. where the 125s arent strong when they are worked.
But in saying that...
What bike is it exactly?
Their is no point putting a lot of power through a bike that has bad handling. It wont be any fun at all.
You need to have your suspension up to par.
I had a motard with a yx150, crf50 style with a good dnm fully adjustable rear shock. But the forks were rubish and the engine just made the handling a lot worse. I then rode a motovert pro with top suspension and a smaller engine and I would have been a lot faster around the track.
If your suspension and bits are good, then get a big donk. Other wise I would be looking at getting the rest first. How much do you have to spend? You can get some decent suspension for around $700 for forks and rear shock.
One other option if you really do want to go to a big bore kit is to look at: AKUNAR MOTORCYCLE PARTS & ACCESSORIES THAILAND
Shoot them a email with what you want and they will sort you out. They are a lot cheaper then motovert.
Depending on how fast you want to go the gpx125 isnt a bad option. Would make a great engine for a smaller bike 10" crf50 style. But if had a bigger pit bike you really do want something decent otherwise you will get bored really soon.