Appreciate the replies all. I went a different direction from what was suggested based on the following for anyone coming across this in the future. Mostly cost related.
I mic'd the cross shaft and found it to be consistent across it's length, so minimal wear. I believe worst case here would be that it would leak oil out of the bushing to the exterior which I can live with.
The rivet on the tab was loose as mentioned, so I peened it out with a punch and got it to snug up. Still wasn't perfect. Norm at isavetractors (rebuild kit source) got back to me and recommended tack welding it. So took it to a local shop and they did it for a google review. I'm happy with it - pic's attached.
Concern was warping - the tab had a slight warp, which doesn't matter in this application and the rod is fine so I'm going to use it as is.
As far as replacing the governor - just don't have it in me to replace a cast iron part with a plastic part. There's minimal wear on the teeth and no snags/burrs on the flywheel's/rod so I'm going to go with it.
Appreciate the suggestions - I will post back if my roll of dice costs me in the future.
Thanks!
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