A butt will be a great first smoke. I suggest leaving one bottom vent half open (and the top vent fully open) as a starting point and don't worry if it seems like it wants to go higher. A brand spankin' new smoker is a little leaky and the extra air translates to extra oxygen for the fire and higher temps. Butts are tolerant of that.
Personally I don't wrap my butts unless I want to hold them when they come off.
Good luck and enjoy!
Oh, yeah... we want pictures, but don't be peeking too much. Each time you open the cooker, you lose heat and admit fresh air and generally disturb things.