Small Engines (Lawn Mowers, etc.): Honda G400 wont run above idle, g400, air filter

Question
I have a Honda G400 flat head with a brand new carb that idles just fine but dies when I try to go above idle or give it gas.  It will remain running if you let off the throttle.  Looking in the carb, it appears to be pumping plenty of fuel as I try to open the throttle but still dies.

I've tried it independent of the governor with no luck.  The governor arm won't really turn when the engine is off anyway.
Please help!
David

Answer
First thing to determine is if the engine is running rich or lean, sounds lean.

With the air filter removed use your hand to cover the carburetor throat as you accelerate the engine.  You are restricting air and forcing the engine to draw more fuel through the carb.

How old is this engine?  Have the valves ever been serviced?

Eric