Just a follow-up in case others have a similar problem. While taking the old drive belt off I was inspecting the right hand transmission pulley. While spinning it around I noticed something wedged into the grove of the pulley. It was something that looked like wood but had somehow melted to the pulley itself. A quick pop with a flat head screwdriver removed it and the mower is running like new again. Picture is attached. Do a careful check of each pulley if you have a similar problem.