Yes and No, yes it will run but not good... your engine will shake like crazy at idle and it wouldnt accelerate and your engine will die. In another word, NO..... to both questions.
Paolo, mine ran for a week unplugged. There was a warning but it ran fine. I think youre right Miles it was probably running rich. I dont remember if it had a lower rev limit but it didnt seem to be in limp mode, plenty of power.