Husqvarna 440 Chainsaw

I purchased a used 440.  The saw looks near new and I took the muffler off to inspect and the piston looks near perfect.  I ran compression test and it is getting 125 psi of compression.  It will start, but not stay running.  It seems to make a hammering noise when running.  I cleaned the carb which seemed to be in great shape, and got not change.  I ordered a replacement carb on amazon and it still seems to run the same.  I have taken the carb off and on numerous times and can not see any reason why this saw runs badly?  I tried doing some adjustments to the carb low and the idle screws, but not making much difference.  I am pretty new to repairing chainsaws, so any help would be appreciated.  I have a short video I can share but the forum does not seem to allow for videos.
Thanks in advance for any help
 
 

I did like you said and uploaded the video to youtube.  Here is the link.  I will look for play in the crank shaft after work today

 

It will not let me share the youtube video link
 
 

No links showing.  You may have to slightly separate the link so it'll post. 
I can copy/paste and put em together..
 
New members have some restrictions on them.. :(
 
 
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I removed the bar and chain.  Here is a video without the bar and chain

Ok, good it's at least running now..
 
Did you adjust, on the carberator, the HIGH SPEED adjustment screw in to lean out the mix?
It sounds like it's running too rich.  The HS screw is closest to the air filter, away from the cylinder.
 
You'll need a special screw driver to adjust those (if you don't have one).
 A complete set of adjusting screw drivers are on Flea bay for cheap. 
 
Also, does the clutch hub, the outside part, spin freely with the engine off?
 
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I'm running out of tricks for ya..
 
First, as there seems to be a lot of blue smoke(oil), perhaps dump that fuel and re-mix.
 
Second, try running with the air filter off the machine. 
 
Third, try running with the muffler actually removed.
 
I know the machine looks new but try all the above (clogged muffler-ESPECIALLY the screen, clogged air filter-even if it looks good).   All will limit RPMs and performance if compromised..
 
A new spark plug couldn't hurt to try.. I believe .025-.026" should be spec. 
Lastly, R&R the flywheel and check the key way. While there inspect for any leakage around 
the cylinder base gaskets...
 
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Still running like the last video?  Like loading up and smoking alot?
 
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I would put the original carb back on. 
 
I gather the fuel oil mix IS correct (as it does smoke alot)?
 
I looked at the old video again, and I believe it's a fuel related issue running too rich.
 
Try adjusting the HS screw with the throttle wide open.  Don't be afraid to turn it a bunch for now.
Get that excess fuel cleared out.
 
Again, for the LS adjuster, lean out (turn the closest to the engine) clockwise to lean the mix and get a good steady idle...
 
I'd also go thru the carb again, compare pic's with your carb.  
The squareish diaphram, part #34, should be nice and soft, no holes, NOT stiff.
That IS the fuel metering diaphram allowing the correct amount of fuel into it. 
 
I'd also remove the needle, check for any crap in there holding it open/flooding it.
 
https://www.jackssmallengines.com/jacks-parts-lookup/manufacturer/husqvarna/chain-saw/440-e-2009-02/carb-details