Correct! It was a loose pin. Loose on the switch and the track. "Tightened" the rails a bit; now it is fine!
Thanks again for all the help!
I just took a 1122E and did a stand alone continuity test. The center rails at all three end points have continuity regardless of the direction the switch is turned. I expected this, but did the test anyway. As I said, I remember having this problem at some point and it turned out to be a track pin.