I'm quoting myself from another thread:
Removing governor will not give you more horsepower but will give you more rpm. Look at attachments. You should see a small linkage rod that connects governor to carburetor butterfly. Remove this rod and governor will be rendered useless. The point at where you disconnected the rod from carburetor butterfly is where you will now connect accelerator cable/linkage that runs to pedal.
Horsepower increase drops off after 3600 rpm. Be aware that if you have a mechanical governor it can fly apart inside engine due to increased rpm which it wasn't designed to take. I have heard of this happening but have not actually witnessed it. Best to remove it completely.
Also, in another of your posts w/pics I noticed that you removed sheet metal shield that surrounds cylinder fins. It is functional,
NOT decorative. Directs airflow around cylinder. This should be replaced as this can contribute to overheating. Overheating=power loss.