I just put together a micro quadrotor with a Hoverfly Sport board. This is my first build and my first experience with any type of RC flying.

The quad seems to be working right but I cannot get it to simply hover. Whenever I bring the craft up it wants to keep rising, or fall, or drift one way or the other.

Should a multirotor be able to hover by just using the throttle? Or does it take some finesse with the pitch, roll, etc.?

Multirotors will not hover by them selves unless you have autolevel and all that fancy stuff.You need to do small corrections to keep it from drifting. I guess if you are inside a big room with no air movement you can trim it to almost stay put.