Thanks for the info. I can reproduce this now, but it's usually not bad for me in Linux or Windows 7. If I zoom out a lot in a project with hundreds of tracks and grab an item on another (currently unselected) track quickly to move it, without that "workaround" Justin mentioned, I can get similar results to your GIF in terms of the cursor being off the item. The reaction isn't sluggish though; the cursor is just not where it should be.
This sort of bug isn't a show stopper for me since I wouldn't move items that quickly in a project with hundreds of tracks. I wouldn't have noticed this if it weren't for that specific info.
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