Reporting my experience so far:
I have one of the duds. v0.9.4, case off, box fan. Only 440 GH/s, ~16% error rate, and 900W.
Using Bertmod 0.2 I was able to look at the voltages and such. Looks like my unit is being overvolted to 0.92V on all the modules. As far as I can tell the nominal voltage is 0.7V, so I think their firmware is choosing to overvolt to compensate for bad chip(s). So all the dies are pulling 50 Amps, driving my total power usage to 900W.
I suspect that not all of the dies are bad; only some. But the firmware is indifferent to the particular needs of each die, and simply overvolts all of them to keep up the hashrate. If that's the case, I could see a future update which only overvolts the under-performing dies, reducing my overall power consumption.
It's better than nothing, and I sincerely understand that KNC's schedule was extraordinarily tight. I commend them for meeting their goals on such an ambitious project. It's still disappointing to see some people getting good units, and others getting bad units, though
EDIT: I poked around with the firmware. It seems that I was wrong about it setting the voltage to 0.9V automatically. Rather, it looks like it's that way from the factory; the firmware isn't setting the voltage. Though the screenshot
here shows someone at 0.7V. So for whatever reason KNC is shipping some units at 0.7V and some at 0.9V.
On top of that, unless the DC/DC modules they're using have changed, these are only rated for 40A. Mine are pushing 50A. ...
I did discover, though, that it's possible to digitally tweak the voltage. Perhaps a future firmware upgrade will take advantage of that. I don't have the balls to try it myself manually.