Tore open the case today and removed the governor guts. I won't do a how-to, as it's been covered extensively. A few notes on the task for those a bit short in the homework department...
1) There's a wire circlip retaining the governor gear. It's a PITA to extract this ring deep in the case with everthing else in the way. What worked for me was two flat screwdrivers tip to tip in the ring groove, then twisting the drivers away from each other. The clip will spread open and fall out of the groove. It's not a snapring, so snapring pliers wouldn't work.
2) The governor arm does not have enough clearance around it in the case to come out no matter how you orient the crank. I found it best to push it as far up out of the case as possible, then cut it flush with the boss using a hacksaw. Gently drive the remainder back into the case using a punch. Watch for clearance, you may have to rotate the crank, but there IS enough room with the arm being 5/8" shorter.
3) The hole in the top of your case must now be sealed. I drilled it open more with a 17/64" drill bit, and tapped it to 5/16-18. I wrapped teflon tape around a 5/16x3/4" bolt and sealed the hole that way. Here's an interesting thing- I may run a diaphragm fuel pump in the future. On a whim, I took a 1/4" barbed, brass hose fitting and ran a 5/16-18 die over it, threading it. Because of the barbs, some threads are deep, some are not. But I teflon-taped it and it snugged in the hole quite well. When I'm ready for the pump, there's my pulse take-off. I would have preferred a 1/8 NPT hole, but I don't have the required drill and tap.