Any chance, does it have dual exhaust? That would be a real deal option! Don't let it get away if it does!
One more thing you might want to put on your to do list (I know, not what you want to hear...), reset the valves. They may have settled in or tightened up doing the retorque.
I wouldn't be too overly concerned about getting the timing to spec. As long as it's running good, not clattering under load, and for sure not kicking back against the starter, it will be OK.
I don't remember what kind of governor problem you were having but there is some how to on the Ferguson page (Ferguson, not MF), info online for the adjustment procedure, and some on Youtube. The most common problem is the link from the governor arm to the carb is out of length range. Too short it won't return to idle, too long it won't get full throttle.
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Today's Featured Article - The Ferguson System Principal An implement cutting through the soil at a certain depth say eight inches requires a certain force or draft to pull it. Obviously that draft will increase if the implement runs deeper than eight inches, and decrease if it runs shallower. Why not use that draft fact to control the depth of work automatically? The draft forces are
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