JimH--
FWIW, I continue to get this issue in .314. It was also present in .316. It is not related to the soundcard, or audio-related. It is the playback within MC, specifically the last 5 seconds, when MC is cueing up the next track. I have seen this issue with various filetypes, WAV, FLAC, and twherreman's mp3. For me it is just an occassional annoyance, although I can confirm that it is predominantly the first track, when it happens, which is once or twice a day. If twherreman can isolate it to ONLY the first track, I would be surprised, but that would be important info. I get the feeling that it does NOT happen on the last track, where it is not cueing up another track, although I can't be certain.
More to the Doom-and Gloom, I think this is a lingering bug in playback where the next track is cued up. Remember that, er, customer who couldn't get his 1-second tracks to play. I confirmed that also, although I don't have as many 1-second tracks as other people do, apparently.