I use a jack for hogging off material fast. If I want straight and true I use a trying plane, If I want to smooth I use a smoother. The Jack is for rough work, which makes it a doddle to set up.
Whatever use you put it to you'll want it sharp. A good camber on the edge is ideal for a jack.
No need to flatten the sole unless it's really badly warped, in which case send it back or chuck it in the bin.
The chip breaker should be set further from the pointy end of the blade than normal. Closer than 1/8th inch will likely lead to clogging.
If needs be, adjust the frog so there is ample gap between the edge of the plane iron and the front of the mouth. Chances are it came with a huge gap, which is just right.
Tweak the lateral and depth adjuster so the shavings are as thick and even as you can manage and still push the plane with an even stroke.
A big chunky replacement blade will be stiffer, good news for hogging off extra thick shavings. You'll almost certainly need to file the front of the mouth wider to accommodate it comfortably - you can't have too wide a mouth on a jack. David C. (who's probably having kittens about now) recommends filing the front of the mouth so you end up with a slight bevel to aid the escape of shavings to the front of the plane. Sometimes the depth adjuster won't be long enough to engage with the chip breaker with a thick blade, which is a bum.
Strip the nasty goo off the handles, sand and finish with oil, then paste wax. Then rub paste wax into the sole and the kiddies slide and buff.
Win.
Shooting refers to the use of
shooting board to aid the trimming of edges and end grain.