Jim Harder: I'll answer you one more time on the Main Forum, but after this, I think we had better adjourn to the MTD section. I believe you have the instructions correct; you turn the shaft in the same direction the spring would pull it in operation, because once the engine starts the governor weights fight against the spring. If I'm wrong, I'm sure someone will correct me.
Also, reviewing Jim Diederichs' response to your original query, he wrote,
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By Jim Diederichs (Jdiederichs) on Thursday, December 27, 2012 - 11:46 am:
It sounds like the governor adjustment is off which would cause the wild rpm swings. To adjust in a brief message:
>loosen gov. arm thru bolt where arm is attached to gov. shaft. Rotate the shaft counter-clockwise.
While doing that hold the throttle to the wide open position and tighten the gov. arm thru bolt.
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Jim is VERY knowledgeable about all things Cub Cadet, but particularly the engines. Please note that you're supposed to hold the arm "full on" (that is, in the direction the spring would pull it) while you turn the shaft in the same direction, BEFORE you tighten it down. When the arm is tight on the shaft, then you should have a full range of movement in the arm. As noted, the action should be smooth, without "hiccups." If the governor is not moving smoothly throughout its range, then I would suspect that there is a problem with the weights working against the pin (see pic below and refer to the accompanying text my previous post in the "Double Trouble?" thread in the MTD section).
In any case, don't run the engine until you're satisfied with the action of the governor, because what has happened to many of them is that they have come apart INSIDE the engine, with the engine running. The end result has been a damaged block, as can be seen in my thread
M18 Starting Problems. You might want to click on the link to see what might be getting ready to happen to your engine.
Governor from Kohler K-Series in working condition (below):
Governor from a non-operating Kohler M18 (below):
View of the damage to the engine block that results when an in-compressible governor weight gets wedged between the big end of a rotating connecting rod and the block casting (hint, the block is more expandable than the either the weight or the rod cap is compressible [although the weight did leave a good-sized dent in the cap]) below:
Edit:
<font size="+2">Brian Wittman:</font> I knew you couldn't stay away! I'll confirm what the others said, check the action of the hydro and the PTO, see if it has external or internal brakes, and check the gas line and/or fuel bowl for rust from the tank. Try removing and replacing the plug, just to see what shape the threads are in, check for oil stains from the breather, how the coil is wired, and the condition of the points and condenser. If it has lights, check the operation of the switch, and make sure the start safety switch is there. I wouldn't be worried if you find problems in all these areas, but it will help you with the price and estimating what it will take to bring it up to your high standards.