Small Engines (Lawn Mowers, etc.): starter cord on ice auger, starter cord, spring tension

Question
I've been given an old Strikemaster with a 2 yr old Tecumseh 2hp 49cc engine (tag says TC 300), replaced the cracked plug boot and put new gas in it, but the cord's hanging out a foot or more, and I was wondering how hard it is to re-wind those.  I may have to take the carb off and clean it, but so far it's only died once since I tried it with the new gas.  My friend said the cord will occasionally re-wind by itself if the motor backfires!

Answer
http://www.lawn-mower-shop.com/trstrt.htm

The above site provides direction on how to install a new string.  It's not exactly what you have but the theory is the same.

You should have a notch in the side of the starter pulley where the rope can fit into.  You should use this notch to tighten the string.  Install the rope in the notch then rotate the pulley by using the rope.  You should feel the spring tension as you turn the pulley.  Once you have tensioned the spring, hold the pulley in place with one hand and with the other hand pull the starter cord handle out to remove the slack in the rope.  With the string straight, gently release the string and it should wind onto the pulley.  If you still have some slack string just repeat the process until all the string is on the pulley or has rewound.

This is difficult to describe but easy to do.  Let me know if this is too confusing.  
Eric