Doing side by side (literally) comparison I ran into a rather interesting difference in the way the Record button behaves differently:
 
1) I see no difference the shortcut "R" to start stop recording
 
2) In SPLAT I can start/stop recording by using the Record button
 
3) In CbB it is rather interesting
 
  a) I start recording using the control bar record button.......I see the wave preview
  b) I stop recording using the button........the wave preview stop but the file keeps moving forward
  c) I push the record button again.......the wave preview starts again (ie. it's now recording)
  d) The will go on and on until I either stop everything using the "R" shortcut or push the "play" button in the control bar or the           space bar.
      This is where I see the gaps when Record was off.
 
The side by side comparison of the preferences file for the record settings shows no differences and yes I have stop/started CbB a couple of times.
 
Is this "design intent"?
 
Oh and I'm running build 31
 
Mario