post your make/model of generator.
with generators it depends what you run off it whether you will run into problems. and most times the problems are not disasterous like most people think.
- non electronic things like incandescent lights, halogen work lights, will run fine regardless of generator rpm, electrical freq. and voltage. as long as voltage is 120v +/- 20v it's fine, frequency > 50hz.
- induction motors like air compressors, power drills, refigerators, same deal except they draw a high initial current on startup which can blow the generator fuse. but most things like refrigerator or air conditioner... the big motors, have a capacitor to help prevent that. once running, lower voltage than expected 120v and lower freq. than ~55hz is harder on the motor. check your stickers on the motor it'll say voltage range x..x and frequency x hertz to 62 hertz.
- for electronics today it's really a myth. all the power supplies, like the power supply on your computer or flat screen tv, do the "power conditioning" within and like with the motors will have a sticker staying acceptable input voltage/frequency range. I have run personal computers off portable generators a lot and believe me when i say the voltage/frequency is not stable i can hear the generator surging and i've never had a problem. the only practical thing i can think of that somewhat needs stable voltage/frequency are the electronic ballasts of the cfd lights that have been rammed down our throats, those will die much sooner than later, such as
http://www.homedepot.com/b/Electrical-Light-Bulbs-CFL-Light-Bulbs/N-5yc1vZbmat
my recommendation would be to put one 500 watt halogen light or equivalent as a load on the generator, have some kind of load, and set your governor so your meter reads around 61 hz. and then check no load frequency and as long as it's less than 62.5 hz your good. this way as generator load increases, or the carburetor goes south they all do, generator speed is not going to increase it's going to decrease. with AC electricity, frequency is also power, it's not just the voltage.