is that a grafted plant or a small own-root? Was the bud developing as you planted it or has it been stable and growing for a while?

It was in a pot and already a good 3' tall

Hmmm...let that nice fat bud next to the flower open, and if it doesn't have more petals, you might not have the right rose. Olympiad is listed at 32-37 petals. One would expect less on a young potted rose, but not 29 less...looks very healthy otherwise.

Alright thank you very much for the help, I'll keep an eye on it.

I don't plan on taking it back even if it is the wrong rose, but I would know to keep an eye on them selling me the wrong one again.

There could be any number of reasons why that first bloom is skimpy. It's too new a plant to decide yet if it's a mislabel or not.

Well I now have some good size blooms coming along, as shown in the pictures below. But I also have another question, what could be causing the yellow leaves on the plant?

I know over/under watering could be happening although I know it is not under watering. And also I read it could be because of light not getting to those leaves due to the leaves at the top of the bush.

I know the rose is doing well due to all of the new blooms and growth going on, just not near the bottom.

Thanks

Pictures:
http://oi62.tinypic.com/10nfev6.jpg
http://oi61.tinypic.com/vr3p1l.jpg
http://oi61.tinypic.com/vy5k6f.jpg
http://oi59.tinypic.com/2a62kcj.jpg