Tecumseh enginer bring-up from carb cleanout

I have this old WW Grinder brush chipper with an 8 HP Tecumseh engine. For 10 years at least it has been reliable and started every year the one or two times I used it.
This year, couldn't get it to even cough much less turn over. Verified spark, replaced plug (which looked OK anyway). Dropped a bit of gas into the air intake and it popped so I pulled a few more times and it ran for a few seconds. So it is capable of running if it gets gas.
Now of course let's cut to the chase it was probably water in the gas. So I'm going to drain the system.
Nevertheless I disassembled the fuel/air intake system and need to understand how one brings the thing back to life with all of the settings out of whack.
The gas intake goes down to a cup with a float valve in it. There is an adjustable screw in the middle of the nut which holds this cup on that appears to regulate the flow of gas into the cup from the gas line. How do I adjust this?
There is another adjustable screw on the body of the part, this appears to be a needle valve. I presume this is the idle setting?
There's another screw that stops the travel of a cam that is operated via a wire that goes off to another part of the engine, my assumption is that this sets the high speed RPM limit? The cam has the letter "F" stamped on it.
Finally there is the choke lever but I do understand what that does.
There's a bit of corrosion on some of these pieces, what's the best way to get that off?
Thanks!
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Hey I'm going to answer my own question.
Took everything apart and I think there was something stuck in one of the fuel passageways in the intake. Lack of fuel filter in the line would make this fairly likely to occur. Put it all back together and it started pretty quick.
The most sensitive adjustment appears to be the needle valve in order to get a smooth RPM maintained, rather than oscillating between high and low RPM constantly.
Anyway the beast appears to run OK although the belt drive on this thing stinks, since if it ever jams you have about 1 second to pull the clutch before the belt burns in two. Think I'm going to sell it soon but that's a bit easier when it is running at least.
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