The problem I'm having, is that when rotating the knob, one "Click" often results in 2 or sometimes even 3 position changes in the UI.

I am having this problem, too. I think it is a software thing, though, not hardware. I can sometimes change my volume by one or maybe two clicks, and go from 0db to -8.5db. This behavior only surfaced after 2.0b7 for me. So far it doesn't bother me enough to want to do anything drastic about it.

tanstaafl.