Thanks ProXu1Victa. The current springs are in pretty good shape. My confusion is that all the springs pull the governor are towards the carb (full throttle position). There are no springs pulling it back away from the carb. I'm looking at specs on line, but can't see anything meant to pull it away.
Operating exactly as designed; although, you may the static adjustment not set.
There is a little misunderstanding how the governor works on the Honda GC160 engine. It is not a air vane type. It is instead is a rotating gear with flyweights driven by the crankshaft rotation that pushes pin against a bellcrank lever. As engine speeds up these flywheel pushes bellcrank and lever against the spring tension to lower the engine's rpm by closing the throttle butterfly vane in carburetor until the spring tension and flyweights balances out each other. If the governor static position on the bellcrank is not set right there will be no control your rpms. If this setting is out too much the engine go into runaway and very possibly self destruct.