My approval!
Now, what I should have asked:
Bonus question: can anyone name a
regulated mod that does not use a switched regulator? (i.e., a
mod that uses a linear regulator)
It uses a switched DC regulator and therefore outputs a PWM signal. If it is a flat trace when it bucks it is because it is filtered/buffered. Only alternative is a linear regulator, a resistance circuit, which is very inefficient and no longer used.
I donno.. I don't have one... but others in this
thread have stated the opposite. It has been said that it does not buck in power mode (non-TC mode). Did you check the output voltage with an in-line meter, or just look at the display, or is that what the specs say?