None of this is particular to JD, just general information to add to what others have said...
Check the governor. With the engine set to full governed RPM (and you verify that it is set to correct RPM), override the throttle at the carb to idle speed. Release the linkage, and observe the throttle does fully open until the engine reaches governed RPM.
Is the choke fully open?
Have you checked the point setting and the ignition timing? If it has a distributor, check the centrifugal advance, and the shaft bushings for wear.
When you serviced the air filter, did you disassemble the upper portion and clean the wire mesh? Might try a test run with the air cleaner hose disconnected to see if it makes a difference.
A long shot, but could the exhaust be restricted? Not very common, but it happens.
The temperature not coming up would typically be a thermostat stuck open or missing, assuming that model has a thermostat... But that would not cause that dramatic a drop in power.
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