Endless loop when 'required' metadata missing

Some very BASIC functionality is broken and it applies to both versions 5x-1.4 and 5x-2.0-beta1.

Audio Module setup:
Only the "Audio" and "Audio GetID3" components are enabled. I'm using the default setup where the ARTIST and TITLE metadata are set to 'required' in the "Metadata tags" settings. I also have the getid3 library installed and properly configured.

How to reproduce the bug:
1. Create a new "Audio" node
2. Under "Audio File Info," browse for an mp3 file which does not already have "Artist" or "Title" fields filled out in its ID3 tags.
2. Click submit. You will get 2 errors: "Artist field is required", "Title field is required." (Okay, sure this makes sense so lets fill out that missing info).
3. Enter some text in the "Artist" and "Title" fields under "Audio Metadata".
4. Click submit. You get an error: "A file must be provided. If you tried uploading a file, make sure it's less than the upload size limit." The "Artist" and "Title" fields are now gone and the "Audio file info" is now blank too... you are essentially back at step 2.

It's an endless loop. You can keep going though steps 2-4 forever and you will NEVER be able to submit the Audio node successfully. Don't forget I'm using DEFAULT settings here, nothing fancy, just uploading a file that doesn't have all the required metadata already in its ID3 tag--a highly likely situation.

Additional clues:
1. It seems that this only occurs when submitting a NEW Audio node, (when the mp3 file sits in a temporary directory while the node is being created). If the "Artist" and "Title" metadata fields are not required, I can submit an mp3 file without trouble. If i then require the "Artist" and "Title" fields again, I am able to edit an existing Audio node and enter the Artist and Title metadata successfully.
2. When the bug occurs, the uploaded mp3 file is left in the temporary upload directory. Upon examining the file there are no changes to the ID3 tag from its original state before upload.

So any ideas as to what the fix could be? Can someone at least reproduce this error to confirm that it is a bug? Thanks.