If you want to confirm that your helicopter is set up right mechanically I posted a detailed setup instruction in a nutshell on the main BCPP thread here:
http://www.rcuniverse.com/forum/fb.asp?m=5099530

This applies to the BCPP but the BCP is similar, it just doesn't (usually) have the Bell-Hiller mixers.
Once you have determined that the head is set up right, then apply RADD's religiously.

Here's what hovering a helicopter is like: shape your right hand like you're holding a can of pop. Now put a sheet of glass on top of the circle formed by your thumb and forefinger. Place a marble on the sheet of glass. Now walk around the room, keeping the marble centered on the glass, while alternately rubbing your belly and patting your head with your left hand.

And if the CX is like a tricycle, the Blade CP/CPPro is like a 10-speed Italian racing bike.

Don't be surprised if it's difficult, but keep after it and you'll get it.