Heh Heh - sure, why not? But the old cork floats were coated with shellac to keep gas from soaking in. New gas has ethanol in it, so you'll need to coat it with something resistant to ethanol. Maybe one of those new synthetic wine bottle "corks" would work. I think I'll throw one in some gas and see how it holds up
I think that is pretty much what the original was. The original was varnished, however, you need to use polyurethane or something like it to make sure the cork stands up the the gasoline/alcohol we get now.