Regarding the fuel economy issue, there really is not a big shift as you may first expect.
Because the gov responds to the load, the only time the throttle plate would open up and consume "more" fuel than the lower-power units is if you loaded the engine up hard enough to cause the shaft to rotate past the "normal" position. If the load does not surpass the typical position of any "normal" use, then the extra available power is not actually in use.
Lots of folks mistakenly think that when they run the throttle lever all the way up, that the carb butterflies are wide open, but this is not true at all. Under no load, at 3600rpm, I estimate that the throttle plates are perhaps only 20% open. Under high load, the gov will try to open them as much as possible until the rpm setting is met. The artificial limit of the various throttle shafts limits that rotational travel; hence the different HP limits. But as long as the gov can be satisfied for any given load, then the throttle will normalize to some opening at the butterfly plates. Under mowing loads, it may be perhaps 35% or 45%, but certainly anywhere near 100%. The only time the plates will "open up" is when you get into a heavy load such as wet grass or heading up a steep slope.
Generally when I'm mowing, I'm probably not running under a high load because most of my area is flat and I keep my grass fairly well groomed, so the difference between my "old" 19hp setting and the "new" version since I've modified the shaft is pretty much non-existent. However, I do have a few sections that the extra HP is warranted; just a couple of uphill pulls while mowing. Since this represents a very small portion of the overall mowing job, the fuel economy really is not altered any perceptible amount for me. But if you have a LOT of HEAVY load situations, it will consume more fuel for sure. But it would only be that percentage of fuel PAST where the plates would have been limited anyway.
Now, to get even "more" power, you could pull the carb and install larger main jets; that would give more power across the board, but also consume a lot more fuel across the board. But I'm not interested in that. I'm happy with my shaft modification; gives me plenty of reserve power (30% more) but really costs me nothing in normal operation and it was free to do!
Because the gov responds to the load, the only time the throttle plate would open up and consume "more" fuel than the lower-power units is if you loaded the engine up hard enough to cause the shaft to rotate past the "normal" position. If the load does not surpass the typical position of any "normal" use, then the extra available power is not actually in use.
Lots of folks mistakenly think that when they run the throttle lever all the way up, that the carb butterflies are wide open, but this is not true at all. Under no load, at 3600rpm, I estimate that the throttle plates are perhaps only 20% open. Under high load, the gov will try to open them as much as possible until the rpm setting is met. The artificial limit of the various throttle shafts limits that rotational travel; hence the different HP limits. But as long as the gov can be satisfied for any given load, then the throttle will normalize to some opening at the butterfly plates. Under mowing loads, it may be perhaps 35% or 45%, but certainly anywhere near 100%. The only time the plates will "open up" is when you get into a heavy load such as wet grass or heading up a steep slope.
Generally when I'm mowing, I'm probably not running under a high load because most of my area is flat and I keep my grass fairly well groomed, so the difference between my "old" 19hp setting and the "new" version since I've modified the shaft is pretty much non-existent. However, I do have a few sections that the extra HP is warranted; just a couple of uphill pulls while mowing. Since this represents a very small portion of the overall mowing job, the fuel economy really is not altered any perceptible amount for me. But if you have a LOT of HEAVY load situations, it will consume more fuel for sure. But it would only be that percentage of fuel PAST where the plates would have been limited anyway.
Now, to get even "more" power, you could pull the carb and install larger main jets; that would give more power across the board, but also consume a lot more fuel across the board. But I'm not interested in that. I'm happy with my shaft modification; gives me plenty of reserve power (30% more) but really costs me nothing in normal operation and it was free to do!