I have this set. Even though you intend it as a display item, which is mostly what it has been for me, I’d recommend having a TMCC remote as well as a transformer. It will be easier to control the operating features using the remote. For example, you don’t get the same control over sound while the engine is standing still using just a transformer/conventional mode. By all means check out the manual before you put it on a track and try starting it up. Unless it’s used and has had an engine number programmed already, as per page 4 of the manual it should answer to engine 1 through the remote.
Also, as pointed out in GRJ’s answer to your other posting on the Control Systems Forum, in conventional mode the engine will normally default to forward when power is applied. Although I have never tried locking the loco into one direction or neutral, the manual at page 7 is a little obscure about whether it will stay at that setting after power is cycled off. I also second his warning about keeping the smoke unit filled!
In any case, you might just find you want to run it around a track sometime and the remote (once you master it, which is not hard) gives it more play value, IMHO. I think that this set is a fine runner with a great finish and sound. I have not had a single QC issue with mine but you don’t say whether yours is new in box or used.
