I also got a Cobra 4 2 weeks ago. Hardest part of setup was carrying the head in and bolting it to the stand.
I had never use a leather sewing machine before. It worked fine right off the bat.
Of course as soon as I changed a couple of things while experimenting and managed to mess up the threading on top of it it developed problems. Still sewed, just not as well. 15 minute call to Steve sorted it out.
Worth the few extra dollars, no doubt.
Dan