link for catalyst preparation.
http://www.orgsyn.org/orgsyn/orgsyn/prepContent.asp?prep=cv3p0685
Notice method B also uses alkaline formaldehyde as the reducing agent.
The article states
"The catalysts A, B, and D are prepared and stored until required with the palladium in the reduced form ready for use."
But then says
"Catalysts reduced with formaldehyde carry no adsorbed hydrogen and are less pyrophoric."
I assume it is good that they are less pyrophoric (less danger of fire) but I would think you want adsorbed hydrogen? I don't know.
Also, the article specifies what type of charcoal to use.
First it says "nitric acid-washed Darco G-60"
then states in the footnotes "Norit, Darco, or other carbons may be used. The carbon is heated on a steam bath with 10% nitric acid for 2–3 hours, washed free of acid with water, and dried at 100–110° before use"
They and other articles I've read on Pd/C prep seem to stress "acid-washed" charcoal.