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that is your t.o.r.s unit. throttle over ride system. NO, you don't need it. You can buy an idle kit for your carb and get rid of the whole box unit.
 
that link doesn't specify removing the TORS box itself. the cable catch in the carb is not the same style as on the throttle cable, nor is it any standard cable end i've seen. i'd assume to do away with that box completely, you'd need to replace the carb?

also, the TORS unit doesn't cut off fuel flow as stated in the how-to, it cuts ignition. it has a small pressure switch in the tors unit that detects the position of the cable as it meets the carb. then another pressure switch in the box on your throttle assy. if the pressure switch is closed in the throttle assy, but open in the TORS assy, it will kill the ignition lead to the coil thus killing the spark.
 
Alright, so what I'm gathering is... No, I don't need it. But, to remove the box itself I need to modify the carb in some regard. And I do that by getting an idle kit, which from my research looks to be a drill bit, a tap, and a new idle screw. Other options would include a totally new carb. So I can either spend $35 for a new idle screw, $160 for a new carb, or just leave it for no fee what-so-ever. I think I have my answer. Thanks guys.
 
if you want to completly remove the box you have to make sure you buy the idle kit that comes with a completly new throttle cable and carb top ( some do, others dont). both moose and motion pro make them( i think motion pro makes two kits the idle screw/drill bit/tap kit and a seperate kit with the cable and carb top, both are needed). not only does it make it so much easier to work with your carb without a huge box on top, but you dont have to worry about any problems associated wit the tors