I've just gone through this with a 10 year old Honda single stage snowblower last year: Your Toro is newer so it may need not need all of these things:
1. Check rubber paddles and replace them with new ones if it's 75% more worn down. Get OEM parts, the knock off seems to not hold up as well.
2. Check the condition of the auger belt, make sure it has the right tension when engaged.
3. Lubricate the pivot points of the belt tensioner and all the linkages that moves when the bail lever is activated. Make sure the auger is stops when you let the bail lever go.
4. Check the bail cable for kinks and binding.
4. Make sure fasteners are in good shape and not rusted or loose that they can fall off.
5. Check the chute rotation and deflection movement. Tighten fasteners and/or lubricate as needed.
6. Take care of small rust spots you can find.
7. Add an inline fuel filter and fuel shut off it doesn't have one. While you are at it, get fresh fuel tubing.
8. Check to see that the auger spins freely without binding, with the bail lever squeezed lightly but not fully engaged. If it does bind, the support bearings may need replacement.
This message was modified Sep 30, 2011 by aa335