Wow, unganging the program monitor fixed the problem. It is annoying to have to re-gang the monitor when needed but not nearly as bad as having the play head jump around. Thanks Thomas!
For anyone else having this problem my system is:
HP z200 – i7 870
Win 7 Pro
16GB Ram
RAID 0 (3 2tb drives) video
1 x SSD for Cache
1 x SSD for OS