Well, I spent some more time on this, and found that Samsung actually does include the BT code with their public distribution. So ... I spent some time merging that with the Cyanogenmod code that's currently available on github, and gave it a try. Short version: fail. Sounds like crap again and still skips intermittently for me. I can't replicate your more frequent skip, I'm afraid, but this was certainly a step backwards regardless.
Next I tried replacing all the modules my custom build generated with the ones from CyanogenMod 7.2 RC1. Even bigger fail, no bluetooth at all.
Using custom build with the BLUEZ modules from CyanogenMod restored the sound quality but it still skipped. Basically back where I started, so fail. I don't see the code edits they made that improve the fidelity so much, maybe they haven't committed them yet?
Last try was to set Master=true in the system/etc/bluetooth/audio.conf file on top of everything else. Still skips, but maybe a little less often? Still chalking it up as a fail.
So I think I'm not going to be able to fix this for you. There's a chance that what they did in CM 7.2 RC1 is just not posted yet and I can still make a custom set of binaries that will work, but I'm not very optimistic about it. I think what I did in GW 2.8.1 is pretty much as good as I can get it. Sorry
I did the best I could. For what it's worth, BT audio on my Fascinate is light years better than it is on my Galaxy Nexus at the moment. Not much consolation for you, but it's something I guess. The fact that I was able to generate a set of working BT binaries from source is also a good thing, even if they didn't solve anything since that means if I even stumble upon the fix it's something I can build myself!
You're welcome to try my final attempt, I've attached the .zip to this post. This is a custom BT module build with the BLUEZ modules with the ones from CM 7.2 RC1 and the master=true setting in audio.conf. I really don't think it will solve anything for you, but the only way to be sure is to try, right?