When my Nashbar Orange pump finally died,I replaced it with a newer model. The smart head(Schrader/Presta) was very tight at first,but then loosened up a bit. Of course,I was using it at my bike clinic,so it was being used over a dozen times a week,so it didn't take long to 'break in'. Sounds like you have the same issue. I would just take it carefully and let the head break in.
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C'dale BBU('05 and '09)/Super Six/Hooligan8and 3,Kona Dew Deluxe,Novara Buzz/Safari,Surly Big Dummy,Marin Pt Reyes,Giant Defy 1,Schwinn DBX SuperSport,Brompton S6L/S2E-X/M6L-X/S12 T Line