" I ran it a bit, and now when the engine is warm, the engine runs away again. Even at little throttle."
I think you'll find that the cast governor arm that attaches to the vertical shaft coming out of the governor is not adequately locked on the shaft. When the engine runs away the shaft turns like it should but the arm doesn't move to close the throttle plate.
The square head lock screw that holds the arm on the shaft should have a smooth, reduced diameter at the inner end on it. This end goes into a small blind hole on the shaft and locks the arm to the shaft. There should also probably be a jam nut on the screw.
Everything I've said is based on your statement that the engine runs away at little throttle (idle).
Did you have the arm off the governor or loosen it when you looked inside the governor innards? If not, a previous owner didn't set the screw correctly.
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Today's Featured Article - Tuning-Up Your Tractor: Plugs & Compression Testing - by Curtis Von Fange. The engine seems to run rough. In the exhaust you can hear an occasion 'poofing' sound like somethings not firing on all cylinders. Under loaded conditions the tractor seems to lack power and it belches black smoke out of the exhaust. For some reason it just doesn't want to start up without cranking and cranking the starter. All these conditions can be signals that your unit is in need of a tune up. Ok, so what is involved in a tune up? You say, swap plugs and file the points....now tha
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