Thank you very much for the replies. All good information and duly noted.
I'll be going through the engine in the coming weeks and I will report back with my findings.As far as doing a "traditional" compression test (i.e., using a gauge and repeatedly pulling on the rope start) I doubt I'll be able to do that due to the jerk backing of the pull start.The engine does have spark and "seems" to have decent compression (maybe too much?).
I'll be checking both the valves and timing and adjusting as/if needed. Agreed on the Tecumseh timing being tricky.
In the last 15 years, I think I have had to set the timing on maybe 2 or 3 and it is always seems to be a challenge for this "garage-hack" small engine mechanic.
(I have the L-Head manual and a dial indicator) Please refresh my memory- (At 68 years old probably not much left) - Can just the the points be replaced w/o screwing up the timing and having to reset it?
The take away I am getting from your replies is that it is more likely the timing being off or the compression release not working rather than improperly adjusted valves causing the starter cord pull back?
Michael