As far as wiring goes, about the same as a motorcylce. the 150s use a cdi ignition, so at the engine end of the harness you should have a plug for that, wires for the starter relay, starter, a voltage regulator/rectifier, ignition coil, FEV "auto-choke" on the carb, stator output/lighting, ground, and battery.
BTW, welcome aboard.
As far as replacement engines go, since you don't have one at all, strongly consider buying a pre-machined case and big block kit. if you start "stock" you're limited in terms of displacement increases by the case's jug bore size. then you hit the need to have it machined to increase the displacement to the larger sizes. You have the advantage of being able to build a really sweet, bolt-in, upgraded 150 from the get go instead of playing "i wish I had!" and "now i have to buy .."
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