fatone, it certainly seems to have been messed up. Someone removed the governor spring and left you with a wire that seems to just lock the governor arm in the idle position. The diagram shows how the linkage is supposed to be connected. [Linked Image]

So, it could have been worse - you could have had to buy parts, at Honda prices. However if the guy who gave it to you is that inventive, he may have done other things as well. Run it with your hand close to the stop switch, and a full-facemask crash helmet and crotch protector, until you've done some commissioning trials.