While this TT does not have any anti-skate, it does indeed have very good VTA adjustment. Also, do you have a Traveler V1 or V2? The V1 did have tonearm problems that were rectified with the V2.
So a simple test should tell if you have faulty bearings. Does your tonearm have free travel both up and down and left to right? Simply get a hold of it by the finger grip and with the cueing lever down, check to see if it will freely move in the above directions under your control. Most important, make sure it can travel all the way to the center of the platter (where the label would be) with a fluid movement without any restraint - especially by the outer support ring of the gimbals. Is it banging into this?
If the above doesn't check out, you should have no problems returning to Music Direct as they are a great outfit.
I have a V2 and have had no problems whatsoever with playback of any records. I increased VTF by the recommended 0.1 gram and used the Baerwald solution on the supplied plastic protractor for my cartridge. Good luck brother and I am sure you will get to the bottom of this - the Traveler is a great table.