Do yourself a favor and order a H50 carb. They are direct bolt on, they have a manual choke, and have an adjustable high speed jet and idle mixture adjustment. The only thing the H50 doesn't carb does not have is the crankcase vent port on the carb, but its not necessary. You can just leave the vent open or put a small filter on the line coming out of the valve cover. The old non emissions Tecumsehs just vented to atmosphere.
Another thing is ALWAYS run a fuel filter with a Tecumseh carb. A Tecumseh carb is a very good design and the adjustable versions can be tuned finer than a lot of carbs, but they are much less forgiving to trash/sediment than Briggs, Hondas, etc. As PoBoy said, they are not as forgiving to bad gas and sitting up as other carbs are. They have a bad reputation because of this, but they are good carbs if the fuel is keep clean.
This is the one I always order for OHH50 - OHH65's. It makes them run really nice. The stock OHH carbs are set-up very lean and aren't good for making power, adding performance air filters, headers, etc.
http://www.ebay.com/itm/New-CARBURE...407?pt=LH_DefaultDomain_0&hash=item3a67a1cdd7