I thought I would update this post for future reference. Initially, the pulley was loose on the motor drive-shaft which caused the pulley to slip, resulting in slow platter speed. After tightening the pulley's set-screws, the platter ran fast.
At this point I contacted VPI who suggested I send in the existing 300 RPM pulley, as it was probably for a 12" platter, not the 11 1/2" acrylic, Scout platter.
So, I've just installed the new pulley, sent from VPI, and everything is perfect; solid speed, good sound.
Thanks for your efforts.