I have a 54 and a 55 and the trans in the 55 is noisy. I had it stick like that one time and don't know why. I drained the trans of 90 weight and put in the correct amount of "ATF" and ran it for a few hours "driving it around".
I then drained the "ATF" it cleaned it out nice.I replaced the 90 weight with 90 weight full syn Royal Purple oil. Wow does it shift nice no matter the temp out side.
The sticky clutch maybe just lack of use.
As far as power goes do a compression check and see what you have. You can rering the motor with out taking it out if that's all that is wrong.
I have cut the heads on my 54 and 55 raising the compression ratio.
I cut .060 of the 55 and it runs strong. I then did the 54 and cut .100 and it also runs strong with no heating or fuel issues.
Also check the wide open rpm just to make sure the governor is set correct. I turned up both tractors another 150 rpm to the more modern specs of the 185s [same motor].
Use a timing light with a tach in it.
If you rebuild the carb buy the dealer [I.H] kit. I have tried several of the after market kits and they "suck" , yet theres people who sware by them. They may cost more but it lasted how many decades , you pay for quality.
When you get by all the problems you will find alot of odd jobs for that little tractor.
I also have a fully restored W-6 and Super M and the cubs get used 10 to 1.
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