Yes I am. Changed it to false loaded up a game no bobbing....closed the game out checked the config still said false. 1.1.4 in the corner of the start screen. Even changed it back to true to see if that made a difference....no bobbing on false or true for me.
I don't see any difference -- but I'd describe the view as always bobbing. Either it's always bobbing for me, or it never is and I just perceive a little dip during motion whether forwards or sideways.
There's also an effect where the camera suddenly tilts down after standing on a pressure plate, which I also want to get rid of.