Two things come to mind - first you are running at 600 rpm instead of the standard 650 - that gives you a lot less power and may result in a wider range of voltage. Second thing, (after you do the govenor mod upgrade) is that there MAY be a problem with the govenor weights. I have seen several govenors working badly because the split pin holding the weight pin in place breaks (they are too thin and should be replaced on every engine!) - that results in the pin dropping sown and the weight skewing sideways. It won't drop out, the pin can only go so far and is held in place by the casing, but it will result in very poor governor response.
One other thing you could try - set the engine up for your nominal voltage/frequency (I recommend 61hz and about 120 volts, YMMV) at no or minimal load, apply your bigger load (say 3kw) and see what the the engine does - if it slows and will not get back up to speed, try manually opening the fuel rack to see if it will pick up. If it does, then most likely your culprit is the govenor mechanism.