Thank you.
Hmm, the governor spring does look misshapen. I figure a new one would have more tension and make things worse... but there is no harm in trying. On the governor shaft it is in the bottom hole, I tried the middle one and the hunting got worse. As I increase revs slightly its all good, but by about half throttle the governor swing the butterfly wide open and it misses and blows black smoke out the muffler. I suppose the previous owner could have drilled the jet. I was trying to avoid checking the timing because I feel like something might break when I pull it apart!
Check out this video of a cold start:
https://photos.app.goo.gl/7ELe2LLVZU8eSvRs8
