The only running on choke does sound like a fuel problem. There is a drain plug in the bottom of the carb. With the fuel valve on, pull the plug, catch what comes out in a clean glass. It should start as a full stream, then slow to a trickle. If it slows to a drip or stops, there is a fuel restriction. Could be at the tank, there may be a screen at the inlet fitting of the carb, could be the float stuck. Those carbs are simple, field serviceable, can usually be eased apart without needing a kit.
Look at what you caught in the glass. If it's dirty, or has water on the bottom, the tank may need to be dumped and carefully rinsed out. At that age, expect some rust, so be gentle or it will be leaking.
The grease on the bearing appears to be coming from the spindle bushings. That's normal, but there should not be excess play. It may need spindle bushings and/or spindles.
A shop manual would be a wise investment. It will more than pay for itself in mistakes not made!
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