@martinguitars , Never assume the settings on a pre calibrated arm are accurate. Always measure. Same holds for specifications which is why a test record (HiFi News Analog Test Record) is so important. Never assume. Measure!
The bearings on a tonearm can get pretty bad before you can notice it by feel. There is no easy way to tell if they are OK. The WallySkater is the only way I know of and it is $250.