I took my Elite running 3.7 on a road bike ride this morning. I used Time Lapse, 1 frame per second, at 1080p, UltraZoom, image stabilization, lens correction. Got home and pulled the 4+ minute video off the VIRB. The track alignment with the VIRB's track was way off. It was starting at a point roughly 1 hour into the ride rather than at the beginning. Since the VIRB had dropped my ANT+ sensors (HR, GSC-10) for some reason, I replace the track with the one from my Edge 800. It also aligned just as poorly, but manual adjustment worked fine.
This was the first time I saw the track from the VIRB itself misaligned. I'm using the App Store version of VIRB Edit 2.5.2.