EDIT: Emailed supercurio. He is working on a fix and I am testing it for him. The only tweak he said he found so far to improve this is using the command "echo 0 > /sys/module/printk/parameters/time" in adb shell. He said it should improve noise popping and he was exactly right. The popping is still noticeable but has much improved! He said he will consider integrating it in a future version.
EDIT (5/16): To be clear, Supercurio says this is a flaw in the Froyo kernel whether stock or not. I recently odined back to DL09 to do OTA to EB03 and still have some issues. Being on complete stock, the issue is not nearly as bad and doesn't occur when I interact with the screen. The issue of sound popping occurs about every 8-12 seconds when playing back audio of any kind. Here is one of his exact messages in our email conversation.
"François SIMOND - supercurio to me
show details Apr 28
This is an issue with the [Froyo]* kernel itself, which is poorly implemented.
Gingerbread kernels are not affected anymore. Is it really bad in ED01 ?"
* Was added in for context.
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