Don't make the mistake of fixating on one solution to the problem.
For starters, you can check the governor w/o removing it.
There are three ways to check to check the operation of the governor. Get the throttle lever at it's lowest point (engine ideling) Then, start tapping the throttle lever slowly open. How far does the throttle move before the engine speeds up? Lack of low speed throttle response (like about 1/3 of the throttle) is the classic symptom of a bad or out of adjustment governor. Next test, put it in gear at about 1/4 throttle, put your foot on both brakes & let the clutch out. The engine should throttle up as the governor arm opens the throttle plate in the carb to compensate for the load on the engine. Next test, w/ the tractor running, pull on the rod going to the carb; does the governor pull back? If that does not work, get out the I&T FO4 manual & check out the 'adjusting governor' paragraph.
But, from your description of the problem, it's not your governor. The problem is fuel, either getting to the carb or in it.
Put a bucket under the carb, remove the bolt in the carb bowl & turn the gas on. Gas should run out in a steady stream as long as the fuel knob is on.
If fuel flow is ok, then adjust the carb.
Both Ford and Marvel/Schebler say to set both the side-pointing idlemix and the down-pointing mainjet to 1-turn as a starting point. I set the down-pointing mainjet to 1-1/2 turns and don't fool w/ it anymore.
Then adjust the side-pointing idlemix for fastest idle; not the smoothest idle. Next, adjust the behind the carb idle-speed set-screw for very slow 400-rpms idle. Do that idlemix adjust for maximum idle at least 3-times. Make sure that you turn the screws slowly, like 1/8 of a turn at a time & wait a second or two for the engine to catch up. Take your time!
Do it like this:
1. Adjust idle mix jet until RPM increases
2. Adjust idle-mix set screw until the engine nearly stops (as slow as you can get it unless you have a tach that tells you 400 rpm)
3. Grasp the rod between the carb & governor & twist/shake it slightly; the slop in these rods often stops the adjustment cam from moving.
Repeat steps 1 - 3 three times.
Remember the side-pointing idlemix is out for lean, in for rich.
If you do not have any problems inside the carb, it is easy to get the idle down to 350 - 400 rpms.
If that doesn't work, it's time to pull the carb down again.
There are 6 things critical to a successful carb rebuild:
1. RTFM. Read The Freakin Manual....in this case, the How-To's on this board. If you don’t rebuild a lot of carbs, lay out each piece you remove on a clean shop towel so that you don’t lose the little screws/jets, etc.
2. Get the very caustic cleaner that comes w/ a wire basket from your local auto store & follow the directions.
3. Use a wire, welding rod tip or whatever it takes to clean every single passage. Be careful w/ the wire; you do not want to bore out the passages. If you do not have a set of gunsmith screwdrivers to remove the jets, be very, very careful. (this is an excuse to get a set)
4. Blow out every passage w/ compressed air (this is an excuse to buy a compressor, BTW)
5. Make sure both halves mate; use a straight edge.
6. Make sure the throttle bushing are ok before you start because most kits do not come w/ them. If you need throttle bushings, replace them or the tractor will never idle due to air leaking.
I'm gonna bet that you didn't do items 4, 5 & 6, right?
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