The carb does have adjustments, the top screw on the side, the big one is your idle screw. The adjustment screw on the linkage arm is not the idle screw, it is choke adjustment. The smaller screw on the side below the idle screw is the fuel adjustment. There is also and adjustment for the accelerator pump, you just loosen the screw on the arm and move it one way or another depending on your needs. I really don't think this carb needs any rejetting but you can drill out the jet a little to help. I'll have to find the size bit, there is a video out there of a guy rebuilding a carb that mentions this, I'll have to find it and report back.
Sounds like you're ok with the muffler.
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