The Beadsmith LoopRite Looping Pliers, Creates 2-8mm Round Loops in Wire (1 Piece)

I had these looprite pliers from the BeadSmith on my tool wishlist for a while, but when I finally got them I was disappointed. I'm not sure if I received an old stock piece, a defective item, or if the overall quality of the product is bad. First, the good: they have a nice heft to them. The bad: 1st, out of the package the cones on both sides near the narrowest ends are rusted, where the plastic tip cover is when not in use, and it is not coming off at all. 2nd, they are stiff, unlike any other plier I have ever bought or used. They do not move smoothly at all. And 3rd, they get stuck, even on a light squeeze of the handles. I thought opening and closing them repeatedly might help loosen them up but so far no dice. They came pretty oiled up but maybe it's old oil that has turned gummy? Honestly, I feel these are 1 star but I didn't think it fair to rate that without knowing if it's my specific pliers or a design flaw, hence the 2 stars.