I am also interested in the answer to your questions. I am also new to trains.

Did you have to do anything special to get the Iron King locomotive to function? Mine does nothing. The other train set works perfectly on the same track.

Just bought the Cargo King set for the boys and it is a great set. We also purchased extra track and remote turnouts. How does the remote turnout plug into the controller? The assembly instructions for the 2 red wired u shaped connectors say they plug into the AC accessory terminals of the power pack, but these appear to be just grey buttons. Where do the wires connect?

Newbe question, thanks in advance for your response!

Just purchased the Iron King and the Cargo King train sets for the boys (and me). The Cargo King works like a champ. The Iron King does not work at all. No light, smoke, or power. What can I do to test it out and get it going? The item number is 00693. The Cargo King was on the track first and we combined the tracks together.