The other thought is that there is some damage to the spiral groove gear (worm gear) in the governor shaft. I looked closely at this damage and it spans a few grooves and there appears to be some metal missing, however, underclose inspection with a magnifying glass there does not appear to be any metal pushed into the groove, just metal missing and the grooves are all present. I am now thinking that this may be source of the noise as it is present regardless of speed of the motor.
So look at the pictures and watch/listen to video's and give me your expert opinion as to what I need to replace, or how to silence the motor (short of not running it

[youtube]http://www.youtube.com/watch?v=AsrHIfGMb0Q[/youtube]
[youtube]http://www.youtube.com/watch?v=r1SoMScM5Cg[/youtube]
Loose fitting pin in pin candidate for noise?