Speed Govenor
I looked at this thread and wondered just how hard it is to remove the govenor from the transmission while it is still in the car. So I decided to take mine out of my 92. Removed the pan, both driveshafts, removed the cats, and dropped the crossmember holding the transmission. After removing the bolts to the transfer case, I pulled it out a little an let it swing down. Then I pulled it out more and let it drop to some folded capets. Had to remove the tranny mount to get at the transmission extension bolts. The govenor valve is then just mounted with two bolts.
Although mine worked, it was very sticky. You could see wear marks on the steel piston. I polished it by hand with some very fine wet or dry paper and oil. Also the aluminum surfaces. The piston now operates freely. Being an old engine restorer, it's against my nature to buy new parts. If yours is sticking, it is because of wear and not contamination. This should be inexpensive enough to buy new. A new gasket / O-ring kit for this is under $30 at bulkparts.com. Top of the line filters are only $10.
Not a hard job at all. I think a lot of these are on the brink of failing. The only tricky part is getting the parking rod back into the extension housing. Put in park to extend rod, then shift into into low to bolt on the housing.