generally if you have to run it with the choke on, then there is an air leak somewhere. by turning the choke on, you are reducing the amount of air.
if there is an air leak, it would be getting too much air, and it would be running way too lean.
what is the air temp. where you are right now?
sometimes in cold conditions the engine can not build enough heat to make it run right with the choke off.
but, you say that it's a fairly new motor.
i would check again for leaks around the carb where it mounts to the cylinder by shooting some starting fluid around that area with the engine running.
it will only take a little bit of starting fluid to be sucked in for you to notice a change in rpms if there is a leak.