My first regulator - normal, defect, or in need of minor adjustment?

[JDostal]

dlwalke once bubbled...
One final observation. When I inhale, I hear a bit of hissing noise coming from the 1st stage. I thought that maybe it was leaking just a bit from one of the ports (that's what it sounded like). But I stuck the top of the cylinder in a trashcan full of water and breathed through regulator and there were no bubbles...so maybe it is just some internal noise.

That hissing sounds is just the sound of high pressure air moving through the system - it's normal!

And, the reason why your first stage is cold, is because when a gas (in this case, air) expands, it loses heat and becomes cold...you essentially have a little refridgeration unit. When gas is compressed, heat is given off...when it's expanded (uncompressed) it gets cold. Crack your tank open for 15-20 seconds, and you'll notice your tank valve gets cold. Happens on HPA stuff on paintball guns as well when you shoot fast for a long time. Don't worry about it!

As far as the adjustments go...even if you bought online, an LDS will service 'em for money!