My apologies for the late reply. Anyway here's the output I got from running the above commands during playback of a video with 48Khz audio:
Note that I have limited audio resampling to 44.1Khz but, unlike jdpc, I still get broken HDMI audio. If I choose other sampling rates (e.g. 48Khz) or set output configuration to "Optimized", then there is no audio at all. If I choose "ALSA: H3 Audio Codec, Analog" as output device and connect a pair of speakers to the headphone jack on the board, audio plays smoothly (no stuttering).
Hope this helps. Thanks.