One likely source of the smell Bob could be the resins used in making pressed Block,
which is comprised of a binder and Meerschaum chips. The chips can be purchased in Turkey for about $2 a pound, which is much cheaper than good Block. Normally, the solvents used in the preparation of the Block, prior to carving will flavor the first few smokes, as well as the Beeswax, but this is a temporary thing. Contrary to popular thought, there is a break in for Meerschaums and this is the most notable event of that process. There is another factor, but it's likely not relevant here, considering the price of the Pipe. Different grades of Block Meerschaum have slight variance in their smell, most notably in the raw Sepiolite stage, prior to the waxing.
These are earthy smells, not unlike a new Clay Pipe, but most would never notice them as the other volatiles that are burning off in the break in are more obvious. The sense of smell is really a big part to enjoying a smoke...
http://www.glpease.com/Articles/BreathSmoking.html The scent of hot Briar block is pleasing and another indicator of the Block's ability to deliver a sweet smoke. It's the same with Meerschaum Block. Scent plays a big role in memory, as women have know for years and is a big reason for the billions spent yearly on perfumes.