Well, I'm not a Blu fan, but a Volcano fan. If you can only afford one, send the Blu back and get a 510. If you can afford both, keep the Blu, mod the carts and use both. I started with a Joye 510 and soon picked up a Volcano. Now I've added Volcano's Magma (I personally like the attys better) and a DSE 801 penstyle. I carry my Volcano and my Magma every day and use them both.
Out of the box the L88B (Blu/Volcano) are not the greatest. It takes a day or so to break in the atty, a little quicker if you clean it first, and the factory carts aren't very consistant. First thing I would do is to get some blue foam and mod the carts, then get some juice, probably a sample pack from one of the juice vendors. With moded carts and good juice, the L88B becomes a very good little device, little is the key here. It's great for a quick puff or two and is very easy to hide in your hand for a stealth vape. If you were a very light smoker, this may be enough for you.
I would also get a 510 from either CigNot, VaporKings, or get a Volcano Magma. These are much heavier hitting and can give more vapor. Another plus of the 510 type of PV is there are a lot of options that fit them like cartomizers. It will also work with your Blu parts, which can give you a Blu atty (better flavor) with a longer lasting battery. All of your Blu parts will work with a 510 PV except the chargers. The chargers are reversed polarity so should never be mixed.
Currently the vendors I use are
www.volcanoecigs.com (Volcano and Magma),
Vapor Kings - DSE801, DSE901, Joye510 and KR808D-1 e-Cigarette supplies (510, 801, and cartomizers), and thevaporroom.net (juice mostly).