NaymzJaymz,
Here are my thoughts on the subject:
When a motor is "dead nuts cold", like in initial start up, I would prefer that it NOT start on the first or second pull. This is because, if it does, the engine is firing with very little lubrication getting "up top" and that is not conducive to longevity.
I know everyone takes pride in their motor starting immediately and without having to touch the throttle but, like Mike said, it is what it is and all these old dogs have their own "personality". Having said that, is there something you can do to make your motor start "as advertised"? Probably.
Here are a few things that come to mind that could keep it from starting on the first pull, with the throttle closed:
Opening the throttle wide open to start could mean that the idle passage still has crap in it and you need to open the throttle plate so that the high speed circuits can feed the engine gas. This is unlikely since you say the engine starts fine and idles good after warm up. But, something to think about.
You are using too much choke and the throttle needs to be opened all the way to "balance" the mixture. You can experiment with different choke settings if you already haven't. I suspect that you have.
But, here's my number one guess....low compression cold. Due to wear, the engine's compression is a tad low when cold and needs more air entering the cylinder to bring that up and help atomize the fuel. This would require some extensive work to correct. After you've verified the condition, of course.
But, do you want to keep working on it or use it would be my question.