I noticed at about 55+ MPH, if I press the accelerator anymore at this speed, it seems to misfire a bit but when I let back off of it, it smoothes out. Is this the governer kicking in on it?
Yup, your hitting the rev limiter. If you want to go faster, and who don't, remove the plastic spacer on the primary clutch. It will allow the clutch to close more and the faster you go.
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2009 850 XP
2002 500 HO
1994 300 2x4
1962 wife HO