9n engine checks

I just bought a 9n and am new to these so I am hoping to get some help with checking it all out.
First I want to go through the tractor and make sure everything is in good working order before I set out using it to brush-hog.
What do I need to check for to see if it is field ready.
What the previous owner told me is this, but I want to know for myself if possible!
engine overhauled within last few years, but I think it is losing oil but there are no leaks at all that I have noticed in 2 hours of operation and driving around property.
rebuilt pto/ point- lifts great with no hesitation pto engages and disengages with no noise lever moves freely
brakes work good says he checked them and just had to adjust one is all
all new grease fittings
steers great no play no noise
has the override clutch on tractor pto checked it out and after I let it speed up took it out of gear and it stops immediately
told me it has had full 12 colt conversion I do see alternator not sure what else to check, says new starter battery etc.
said it also has electronic ignition installed not sure how to check
starts great and pretty easy but the weather is warm now so not sure
do not see any leaks at all as mentioned earlier anywhere under tractor after running for 2 hours and driving around property
shifts good, new clutch installed also he told me
My main concern is the engine oil pressure reads around 40+ lbs at gauge while oil level is a little low but still within safe range on dipstick. thought it was around 50 lbs at the start of operation 2 hours earlier and it does smoke a bit at start-up and for as long as I can tell through the entire 2 hours even though the 2 hours of operation was not all at one time. smoke appears white to light blue but I do not really smell oil mainly just smells like exhaust

2nd main concern is fuel! Or rather I think the governor maybe the carb although he also stated he rebuilt carb
The engine will not rev up until the throttle is pulled all the way down to it's furthest point and then seems to not hold the speed/rpm when going up a small hill with no load and while pulling a brush hog not attached via the driveline and thus not not operating either.

Any help would be greatly appreciated from all

Thanks again,

Ed

Follow Ups:

• Re: 9n engine checks - HCooke 11:26:13 05/23/13 (8)
  • Re: 9n engine checks - ed thomas 14:05:36 05/23/13 (7)
    • Re: 9n engine checks - HCooke 14:15:04 05/23/13 (6)
      • Re: 9n engine checks - ed thomas 09:37:47 05/24/13 (5)
        • Re: 9n engine checks - Ken(Ark) 09:39:59 05/25/13 (1)
          • Re: 9n engine checks - ed thomas 13:09:59 05/25/13 (0)
        • Re: 9n engine checks - ed thomas 10:16:39 05/24/13 (2)
          • Re: 9n engine checks - Ed Gooding (VA) 20:21:43 05/24/13 (1)
            • Re: 9n engine checks - ed thomas 13:13:06 05/25/13 (0)

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