The basic thing to remember on this engine, or any similarly configured governed/carbureted engine, is that the governor and carb want to be wide open, or nearly so, at the same time. With the engine off, and the link between the gov and carb removed, you should be able to see the gov arm move to wide open when the throttle lever is moved to wide open. You can push on the gov arm and feel the spring holding it wide open. Then the link should just fit between the gov arm and the carb, with the carb shaft turned, or held, wide open against the stop.[Opposite from resting against the idle screw] Earlier I said nearly so, because some instructions want you make the adjustment[threaded, or in this case bend a rod] so that the throttle shaft/plate in the carb is not quite wide open.- So that when the governor snaps wide open, the throttle shaft/plate assy doesn't slam against the stop.
The internal gov spring[the one you feel if you try pushing on the gov cross arm] controls wide open RPM. They are amazingly accurate.
You can adjust the rod going from your throttle handle to the gov for your convenience. It's not that critical, so long as your getting full motion of the gov input arm.
Maybe someone will post pictures- worth a thousand words!