Just got off the phone with support and mine is fixed. Here's what the problem was. I had a manual binding of "N" to toggle snap. Evidently, "N" is hard coded as a keyboard shortcut and having it additionally manually mapped (even though it was the same binding) was causing a problem that manifested in the behavior I was seeing.
Dean
BTW, the support guy was great (didn't get his name, sadly). Kudos.