Are you sure it's not the speed control? I've never seen a 690 not run at the rated speed. And I worked in a shop that had about 40 of them, abused daily for 15 years. The only problems I've ever seen were bad switches and cords.
A 690 should run at 27,000 rpm, btw.
I use a Super-PID on mine to control the RPM, and have accurate rpm control from 5000 to the full 27,000.