Generator Won't Rev Up

[mogas]

Hey folks I'm working on a friends Troybilt generator 5500 running watts. The problem is it'll start fine but won't rev up. It does have enough output to run my angle grinder. I replaced the brushes/regulator/rectifier. It used to not have any output. Now that's fixed it won't throttle up it only has a high idle. I can manually move the throttle shaft and the engine won't rev up. I cleaned the carb it looks great, compression is 55psi and 55psi on wet compression test, valves are adjusted correctly. I'm stumped any help would be appreciated thanks. Engine model is 204412-0147-e1

 

[ILENGINE]

Compression seems low for me, I would prefer around 90 or above, but could live with 70 in some cases. I am assuming OHV engine, So I would make sure both valves are opening the same amount. I have seen more than one camshaft wear down the intake lobe, and it will act like there is no throttle, even though the butterfly is standing wide open.