If adjusting that bolt under the Gov. housing didn't change anything, and it's still hunting, I'd suspect either the bumper springs are broken, or the governor spring itself has broken, or came unhooked. Here is a link to the Case/IH online parts store, that shows an exploded view of your governor.
Official Case IH Online Parts Store and Case IH Catalog for Best Parts Search and Best Parts Look Up. Case IH Parts for Case IH Tractors, Case IH Combines, Case IH Tractors, Case IH Manuals, Case IH Parts
The most common items that go wrong with these governors is spring #5 in the parts list, and the thrust bearing, part #25. Normally, when the thrust bearing goes bad, it will only accelerate up to about 1/3 throttle. As long as you've adjusted the linkage from the rockshaft clevis connection to the carb. properly, I'd suspect spring #5 is the culprit. If you have a Case/IH dealer near, they have them, and price is $12.72.
Easiest way to get the cover off is to remove at least the fan shroud. Removing the hood may give you a little better view to work. I'm thinking 4 bolts to remove, after disconnecting the carb. linkage, then bump the cover with a dead blow hammer, or a decent sized rubber mallet. Should come off fairly easy, without messing up the gasket. Spring #5 will be in that cover.