it's by far not lame with the governor still installed..
it's just a little bit easier (and quicker) with it removed
As the guys above explained, that engine is a real treat for it not offering an adjustable speed, it luckily still has everything as it needs to be to add a speed control
there are plenty of videos on youtube showing how to install a remote throttle..
one I liked particulary well I couldn't find atm (so I can't post you my favourite link I'm afraid... will look again and add it later when found)
it's nice because there wasn't any need to buy anything but the throttle cable itself and a hollow adjuster screw, the rest was home made.
IIRC it was a yellow clone... nevermind..
The governor arm btw is NOT connected to the governor..
in fact many don't even remove it at all when removing the governor;
(I'd rather remove it and plug the hole tbh)
And the reason it's easier with the governor removed is simple..
the revband on your engine is quite narrow..
1400 rpms is all you get to control your speed
since the clutch fully locks at around 2200 rpm and below that heats up and eventually
glazes over (and burns out)
you need to stay above 2200 rpm to prevent that.
With the governor removed the same thing holds true,
but your valves start floating at around 5000 or 5500 rpms
so you get another 1400 - 1900 rpm of revband to control your speed.
And that can be added both ways
(as the capability to move slower and cruise down the alley at walking paces)
or to increase top speed.. or a mix of both
The more choices you have for what speed you're going at,
the easier it is to get used to a vehicle.
(if you ask me.. I vote for removing the governor, then gearing slightly lower to be able to slow down a notch and still gain higher top speed than with the governor)
And since JT brought it up:
it's very unlikely that your conrod or flywheel will fail just because you removed the governor..
it's not impossible, just unseen so far
It's indeed the heavy valve springs (kicking the rpm to above 7000) that can make the conrod and flywheel fail in short order (well the resulting rpms to be precise)...
but since you haven't installed any.. there is very little to worry about IMHO.
'sid