I'm pretty sure I got the governor adjustment down. In this video, at the 10:25 mark, he mentions the governor having some wear. But also makes it sound as if just adjusting it can stop the reving up and down that's also what's going on. (which is why I installed the new carb).
One thing to note about the gov adjustment, I lo0sen the arm (that connects the rod & spring from the carb), turn the governor stud clockwise, but the arm itself, won't reach the bracket. On others I've adjusted, seems like I was able to push the arm all the way to the bracket, then tighten it up.
https://youtu.be/XbFyGRixoGA