OK, you don't need the tail wheels and since the knives are reversible, it doesn't matter which way the rotor is spinning. Reverse rotation leaves a finer cut but you probably wouldn't notice much difference. Those are the right knives, wouldn't be surprised if they were stamped Mott. The biggest concern is that it makes a lot of noise. This is not normal. Mott's have to be run at 540 RPM and should make a turning sound almost like a big fan would, not loud and unbearable. When cutting you almost shouldn't hear it because the grass acts as a sound deaden-er. It shouldn't vibrate and should be quite smooth when running. Vibrating would indicate the rotor is unbalanced. It is highly possible that the rotor bearing(s) are shot, possibly from over or under greasing. Mott's use top of the line Sealmaster bearings and a bearing house can match them. About the only other possibility, that's extremely rare, is the rotor is bent. I only say this because way back when a stupid operator on a MF 275 with duals and with an 88" rear and both left and right hyd. Interstator wings (read heavy) got stuck and put the chain from the tandem tow truck around the rotor on the mower.:duh: After that my dad kept a spare rotor in stock.
Non Mott/Alamo belts are KNOWN to cause problems. They are specifically built for Mott/Alamo. The belt could be slipping and not allowing the rotor to turn at the proper speed. Take the belt guard off and inspect the belt, pulleys and tensioner. Maybe the tensioner bearing is binding? Leave the belt guard off to see what's happening when you're using it. Laying the grass over would indicate the rotor not turning fast enough. Could there be a problem with the gearbox? That could certainly cause a vibration and loss of speed. Last thing to check is that the PTO on the tractor is slipping or not working properly. If you can't figure it out, I'm sure Alamo would be able to offer assistance since these mowers have been around over 45 years.