Just did a leak down test and there were NO noticeable leaks! I did notice the exhaust valve gap was a little loose. Decided to roll over the engine and check both gaps. To my surprise the exhaust valve had about 1/4" travel HOWEVER the intake valve had almost NO travel. I tried to measure with a ruler and it looked like 1/16" travel at most. I guess it's time to split the case and look at that after market cam I put in late last summer. seem really odd to have trouble with a lobe??

Not unusual with aftermarket crap from China.
 
Sounds like you found the issue.
 
 
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After looking at some bad camshaft reviews on Amazon, it seems several people had worn lobes after anywhere from 20 hours to a couple years. I just ordered the OEM camshaft. I don't go cheap on replacement car parts, guess the lawn mower is no different...live and learn.
 

Just to follow up...(annoying when the problem fix is not posted on forums)
 
Back together and running at full power. Mowed pretty high grass with ease. After market cam intake lobe was worn off to almost round and I found some silver sludge in the bottom of the crankcase from the lobe. Fresh oil and filter and all seems well. I did put the OEM carb back on. Thanks for all the feed back.
 
(Now I will spend a little time trying to get the deck vibration down to a minimum... On my last troy bilt deck I had to shim the idler pulley arm which wobbled causing vibration.)

Tks for the update!!