Thanks for your reply.

What you say makes total sense.

So that's the thing - I know I setup with this club with an "extra" closed clubface which is probably exacerbating the problem. I think I'm setting up like I would a driver and keeping the rear of the clubhead off of the ground and thus closing the clubface. When I setup with the clubhead lying naturally on the ground, the clubface is pretty square (or at least as square as my other clubs). Does that make any sense? I didn't realize this last point until I got home and asked my roommate if he saw a severe offset or not.

I've read so many good reviews of this club that I think I'm going to give it another go at the range tonight, setting up as I would an iron shot and letting the clubhead rest naturally on the ground.