I have an FR691, FR and FS series have a single barrel carby, the FX series come with a two barrel carby with dual stage canister air cleaner.
The 651, 691, 730 are all 726CC engines, roughly 21.5, 23 & 24hp in the FR series, the FX has a slight reduction in hp.
Quite a few years ago I searched for parts variations between the engines as in many engine configurations, a carby difference, a cam difference, a partially blanked intake gasket are the only differences in many engines. The only difference I could find between them (in the single barrel FR 651/21.5 hp, 691/23hp, 730/24hp) was the throttle shaft, all jets/venturis were the same size etc. So I had a look at my carby and found that the butterfly didn't fully open, I expect due to the shaped stop on the end of the shaft, and since that was the only part difference, I took a die grinder to the aluminum stop on the carb to make sure it could go fully open. Did it improve it, well I can say the seat of pants feel said "yes when under heavy load", but we all know the pseudo effect, so no, I don't have definitive proof, but when the load is on, it appears to handle things slightly better, and I work it very hard. This is on a 50" cut Toro. So I expect your 48" with slightly less cut should work with any of these without the need to go the next step to a bigger CC engine, as many 48's come with the 651. YMMV