Just to clarify, for posterity, this carb is off of a bike with 20 miles on it. I am 99% certain that, aside from "inyun manufacturing" (now one of my favorite terms), this carb is exactly as it was designed.
If the cap is screwed on, there is no way the slide piston can rotate. The guide pin prevents it from rotating. If, however, you remove the cap, you can see that at full throttle the slide piston protrudes about a cm out of the body of the carb.
If you lift the piston just a little bit higher, it will clear the guide pin; it can now be rotated freely, and a good 3-4 cm of the piston will still be inside the bore of the carb body. This is what I'm talking about. The piston can rotate, but will only drop back to the bottom if it is aligned once again with the pin. Ordinarily the cap prevents the piston from ever lifting high enough to clear the pin.
On my carb, the guide pin is very low in the body. If you have a variant in which the pin is placed higher up, then I can see where it's impossible to install the piston in any but the correct orientation, but with this carb, it can indeed be done.
Bullethead63: I think adequate lubrication in the spring and cable area is going to be the key here. With my "modifications," I am pretty sure that I will not have any binding problems as long as the added drag of the cable doesn't compound the problem.