chuck53,
If the rotor/resolver was aligned from the factory you should not have to re-align the resolver at motor installation. Only if the motor has been disassembled should it be necessary to re-align the resolver.
I would assume that you are using a brushless DC (a.k.a. permanent magnet rotor) motor since the motor has a resolver. It is important that the resolver is correctly aligned to provide for proper commutation of the motor. Proper commutation is necessary for precise speed and position control.
With that said, I wonder why you are using a resolver on a motor that is used on a stamping press. Is speed control critical in your application?