Mark,
On a mechanical injection system, the injection pump is driven by the engine gear train, or in some cases part of the engine camshaft. The pressure is so high because the injectors fire either directly into the combustion chamber, or a pre-combustion chamber. Each element of the injection pump (one per engine cylinder) is timed to each other by design, and the pump itself is timed to the engine crankshaft to ensure fuel delivery at the correct time.
Typically the fuel injection begins at about 20-30 degrees before TDC on the compression stroke. There is a short time delay, or lag, before the fuel begins to burn. It will usually ignite and begin to build pressure a couple of degrees after TDC, and will continue to burn for most of the power stroke, delivering a sustained push on top of the piston.
Fuel timing may be variable either mechanically or electronically, normally variable speed engines have variable timing, although this isn't always the case.
The air-fuel ratio varies widely depending on how much fuel is being injected, unlike a gas engine that stays relatively constant at about 15 parts air to 1 part fuel.
The diesel has no butterfly valve in the air intake, it can have as much air as it can either suck during the intake stroke, or as much as a supercharger can stuff in while the intake valve(s) are open. The governor controls the fuel injection pump so it only injects enough fuel to maintain the speed the governor has been set for, either as a constant speed engine, or variable speed as in most tractors.
A simple governor has a set of flyweights that rotate as the engine runs. When the engine slows down (as in a load being applied), the flyweights sense the drop in engine speed and act on the fuel rack (pump) to increase the amount of fuel delivery to bring the speed back to it's set point. If the load decreases and the engine speed increases, the governor senses that via the flyweights, and decreases the amount of fuel being delivered.
Unlike a gas engine, which is largely self-limiting due to the volume of air and fuel which it can take in, a diesel will accelerate very rapidly, therefore all diesels must have a governing device of some sort.
If you've not noticed before, try setting the hand throttle on a diesel tractor as you approach a hill. You don't have to move it at all to maintain the same speed as you go up the hill, unless you're overloaded in which case it won't matter what you do anyway. It may drop slightly, this is a phenomenon called speed droop and is inherent in all mechanical governors due to their design. Hydraulic or electronic governors can be set at a given speed and maintain it very accurately (often within one or two rpm) throughout the engine's rated load capacity. A tractor doesn't require that fine a speed control, so the cheaper-to-build mechanical governor is more than adequate.
A diesel starts with maximum fuel delivery in most cases, it's why you get that puff of black or grey smoke at each startup. If there is a fuel limiter involved, it usually limits fuel delivery at start-up to about 40-50% to avoid smoke and over fueling. Turbocharged engines usually have these to limit the amount of fuel injected until there's enough air boost to burn it effectively.
I hope this helps, if you have any questions feel free to ask.
Sean