Thanks for the feedback!
In terms of the physics, I see where you are coming from. At one point in development I thought it was too easy to change the player's direction in mid-air, so I added the effect you must be talking about. I agree it can get annoying at times, but in my opinion the inclusion of the effect felt better than the original code. Although with that said, some tweaks are definitely in order.
I'll keep your input in mind for any further development.