" I ran it a bit, and now when the engine is warm, the engine runs away again. Even at little throttle."
I think you'll find that the cast governor arm that attaches to the vertical shaft coming out of the governor is not adequately locked on the shaft. When the engine runs away the shaft turns like it should but the arm doesn't move to close the throttle plate.
The square head lock screw that holds the arm on the shaft should have a smooth, reduced diameter at the inner end on it. This end goes into a small blind hole on the shaft and locks the arm to the shaft. There should also probably be a jam nut on the screw.
Everything I've said is based on your statement that the engine runs away at little throttle (idle).
Did you have the arm off the governor or loosen it when you looked inside the governor innards? If not, a previous owner didn't set the screw correctly.
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Today's Featured Article - Gettin My Old Tractor Home - by Clayton Sweeney. My name is Clayton Sweeney. I am from Southern Maryland in a small town called Lothian. I am 20 and my father and I are the proud owner of a 1954 Allis Chalmers WD-45. When I was 18, I dated a girl in the next county over. Her family are tobacco farmers. It was a cold Thanksgiving evening, and we were going up to her Grandparents house. As we passed one of their barns, I noticed something orange in the corner of my eye in this old shed. It was pretty dark and I asked what it was
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