They will free up after you ride it, but the design has inherent bearing drag. This is due to the preload on the bearing on the left crank arm. Its something you have to deal with. However, I think the drag is offset by the stiffness of the crank.
If you want a crank that has external bearings and still spin as smooth as the older BB's, go out and get a Campy Ultra Torque crankset