Herb: buying new Stanley "contractor" production can be hit or miss, in the sense that it needs a bit of tuning right out of the box; that being said, these can be ok planes, its pretty hard to screw up making a block plane, but its also hard to make one that works well right out of the box.
First, pay attention to the iron. Flatten the back down to the finest grit stone you have, then sharpen it properly.
Next, take the lever cap and at the end where the cap makes contact with the iron, take it to the stones and flatten that surface at the contact point on the bottom of the cap, as these new planes tend to have the paint get bumpy, such that you don't have full, and firm, contact between the lever cap and the iron, this can produce chatter.
Third, check the mating between the adjustable mouth plate and the sole to make sure it is coplanar. if not, lap the sole on some sandpaper on a flat reference surface. It may be a good idea to make lateral lines on the sole with a sharpie and lap it on some fine sandpaper on a reference surface until the lines are gone, but this is getting pretty anal retentive about the sole, and it will likely be ok out of the box.
Fourth, check the surface where the iron beds to the sole, I haven't seen one of these in a while and can't remember how it is bedded, but the issue again is paint on the mating surfaces don't let the iron sit flat, absolutely flat. This affects performance. File or stone (if you have small honing stones) it flat such that the iron is firmly seated.
If all this is done, or already correct on the plane as delivered, then it will likely give you yeoman's service. Think about a replacement iron of better steel to further improve it as the iron is clearly not vintage with a laminated iron. Not for nothing, but this is 25 years of experience in tuning planes, I've giving you pearls here!
Good luck.
However, if you want something that works with only some light honing out of the box, buy a LV or LN, and you won't be sorry, and will only cry once.