I replaced the governor gear and the governor control lever. The engine appears to be running better. The govenor sticking issue is gone and it operates smoothly. I mowed the grass once but nothing very taxing. I am going to mow a steep grade a neighbor has once it dries up this week. That will be the true test as it would bog down and then overspeed at the top of the incline.
The new style govenor wasn't metal as the previous part number was, some type of nylon plastic, similar to a starter gear.