ahhhh ... interesting. In fact, you are correct, I noticed after tearing this open that it does have some reserved spaces that have exposed the unused portions of the membrane:

In all honesty it kinda feels like ****, but I may take a stab at cleaning it up to see if it improves.
Right now I think I prefer my Keytronic 3601 to this thing...
Few things to note:
- keycaps are NOT interchangeable with the model M ... the cross-shaped molding on the underside of the tandy's caps keep them from "locking" in place on the IBM.
- this thing IS reasonably well constructed. At least, when I cracked it open I noticed the internals are not held together by plastic rivets:

So has already had the rivet mod done

Anyway, thanks a bunch for your help.