It could be several things at once. The wheels should stop entirely when it's at idle, and they never stop turning. That suggests the clutch is rubbing. These engines don't produce much torque at idle, so it's struggling to pick up speed when you open the throttle. Normally they can rev up a...
Those are pretty good, I use them in my nitros. Might as well get a plain one because the anodizing wears off pretty much immediately, and will only wear away the clutch bell a bit. Here's a cheaper listing for them.
That's a pretty nice, vintage Tamiya TGX!
That engine doesn't sound too happy, kind of struggling. It should be snappier when you hit the throttle. I see the oil spot from the exhaust, that's encouraging, but there should be a little more smoke when you rev it. I'd richen up the high speed...
Do the wheels stop turning in the air while it's at idle? When you say it won't rev, does the throttle still open, but the engine bogs down instead of moving the car? It's not exactly clear what situation you're describing, a video might help.
It could be tuned too lean so that it's stalling...