Thanks for the replies.
Based on your description it does NOT sound like I have the original regulator setup. There is nothing on the thermostat housing. I will get some more details for you on the regulator and the routing of the fuel lines.
Regarding the lean condition, I tried adjusting that on the carb and it did not really make any difference. I had someone bring the rpm up fairly high while running the forklift and adjusted the high speed jet. I turned it in to the point that it went lean and started to drop rpm. Then increased jet setting and continued to increase 2 to 3 turns more, no real effect on running.
Rick
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