Sounds like it's not right. Is this a cartridge bottom bracket or loose balls and cup bottom bracket? If it's a traditional balls and cup bb, then it could be that your LBS overtightened it. You shouldn't feel the ball bearings and it should feel smooth and rotate very freely. If it's a cartridge then maybe you got a bad one. Definitely take it back to the LBS. If this is a cartridge, have them remove both crank arms and then feel the spindle by hand and compare it to other new cartridge they have in stock. There's nothing to adjust - if it's bad they should replace it. If it's balls and cups, insist that they adjust it and let you feel it before they put the crank arms back on (usually they'll have the left arm off, right arm on while adjusting). After the crank arms are back on, check for play.
Oil is good, grease is better.
2007 Peter Mooney w/S&S couplers/Terry Butterfly
1993 Bridgestone MB-3/Avocet O2 Air 40W
1980 Columbus Frame with 1970 Campy parts
1954 Raleigh 3-speed/Brooks B72