This is an old thread, but I don't see other discussion of it so here's what I've observed. When I click at a given point to set the cursor, that is the playback position. However, when I stop playback at any point, even though the cursor appears to be at the place where I stopped, WavePad thinks my current position is the point where I *began* playback. If I try to select a region, it will be relative to the start of last playback, not the current cursor position. This is highly inconvenient when using playback to find a particular place. However I can apparently reset the cursor by using ctrl-G to set the cursor to the current visible position.