Speaking of keyways... funny story along similar lines last weekend.
Mate was mowing with a rideon last weekend, he did the usual, engage the blades, drop the deck and started mowing away, after only getting 5 meters the thing just ground to a halt.
he kept trying to start it only to have the same symptoms...
He calls me, and I do one of the best jobs I have ever done on a set of valves, they came up beautiful, lapped perfectly and a perfect gap, the machine now had more compression than before and they were sealing 100%
So I bolted everything back together a,d proceded to start... same issue as before! would pop and fart but no actually start.
After several beers the penny dropped and I thought to check the key. I quickly took a new key from a scrap motor and it fired right up on th first pull.