Yes, mine has a flywheel, it came on the pulley shaft. I did buy mine used though. VPI's directions are not good, but they are resposive to e-mails and phone calls. Copy and paste the link below for contact info.
Regards,
John
http://www.vpiindustries.com/contact.shtm
Regards,
John
http://www.vpiindustries.com/contact.shtm