This is an old thread, but it always bugs me when I'm reading a thread with exactly the same problem I'm having and it's never resolved... so here's how this one concluded (2 years later).
I wound up taking apart the carburetor and cleaning it out. It actually looked pretty clean, and after cleaning it the mower ran the same.
Fast forward to this year and I started to think it was maybe due to the governor and not the carburetor, so I started to play with it. To make a long story short, it seems like over this mower's 20 years of life one of the springs wore out, specifically #5 in the diagram below.
So I rebent the spring hooks to make it a little shorter (I had to try a couple times to get the right throttle setting), and then adjusted screws #18 and 19 so it wouldn't over-rev while on choke, and it's working much, much better now.
It runs at the right speed now and goes through tall grass like a champ. And it starts after ~5 pulls now instead of 10 - 15.
So I'm not going to say it's as good as new, but it's good enough for me.