It wouldn't be SO galling to me if it wasn't for the fact that the 'classical' method of regulating the speed of an engine is the Centrifugal governor.
http://en.wikipedia.org/wiki/Centrifugal_governor
I mean come on. Stars for being better than 99% of all steampunk projects.
I'm only giving this five stars because it is the first 'steampunk' thing I have ever seen that actually uses steam to power something.
It's still retarded, just slightly more respectable than someone gluing a bunch of spray-painted pipes and gauges onto something like a sad, adult version of a macaroni picture.