New Record Sounds Like Crap - How???

Pawlowski6132, since you say you are new to vinyl I can only assume you have not yet developed an ear for what to expect and what the various (many) types of noise are associated with vinyl. Some types of noise are more tolerable than others.

Basically, I categorize vinyl noise into 1) correlated and 2) uncorrelated noise. Correlated noise is noise that is in some type of correlated pattern with the music. For example a scratch or pop from grunge across the grooves will occur once per revolution and is thus correlated. This type of noise is much more objectionable because, unlike random uncorrelated noise, your brain has a hard time filtering it out. It interferes with the pace or beat of the music. Correlated noise is usually a defect or dirt in the record. Another example is the static sound on instrument volume or frequency peaks. This is either grunge or groove damage. I have found that only repeated cleaning will reveal which. All you can do is try to clean this out.
Uncorrelated noise may also be dirt or other substance (such as mold release) distributed more or less evenly through the record but it may also be part of the original recording (tape hiss) or some other production issue (poor pressing etc.) Be careful when comparing to CD on uncorrelated noise. Are you sure that the hiss you hear is not just original recording tape hiss which has been edited out of the CD (to the detriment of the music since other frequencies would have also been removed)? Uncorrelated noise is, in any case, less objectionable. To prove this to yourself, just imagine that the random clicks or hiss you hear are the random pitter patter of rain on the window of your listening room. All of a sudden the music is crystal clear. As another case in point, the next time you are at a live music event, listen to how much uncorrelated noise is going on around you that your brain completely filters out (that guy three rows back that keeps coughing etc.)
Finally, some observations on jazz LP's - buy the best quality ones from the 50's and early 60's. While I have many newer pressings and Fantasy's as well, they are hit or miss as you have learned. They just don't press 'em like they used to.

This phenomena drives alot of us crazy, I think. At the RMAF I put on Galibier's copy of Pink Floyd's "The Wall" and couldn't believe the difference in quality from my own copy, which I bought new in '86 and have played only 3-4 times. It's apparently made of regrind, Thom's isn't. Same label. Go figure.
There is undoubtedly some effect from that new records are a relatively small market these days and the sales/dollar volume does not warrant the best quality control. NOS tubes demonstrate the same point - in the days when these items were mainstream and represented big bucks to big companies, competition seems to have forced a better product. There is good news as this seems to be turning around. Vinyl sales are up, as are vacuum tubes. There are actually a few good tubes being produced right now, and some good new records.
This makes digging for records in the used bin some great fun. Some of my very best vinyl has come $0.50 used from unlikely sources, some of the very worst I paid $40 new. Newer release rock vinyl seems to suffer worse than other genres.
Of course as the system gets better, quality differences between records stand out in greater relief.

Fantasy Vinyl that they use for their newer LP's sucks,plain and simple. The last decent records they produced would be around the mid eighties. The new Blue Notes are a hit and miss option too,it depends on how they were shipped and stored by the seller as to if they are warped.