Yea, that is my experience too that 4.2.2 works better concerning GPS.
I fiddled a little bit around and found out that the instability only occur under certain conditions, for example glitches of the blue arrow occur only in navigation mode not in bicycle viewing mode. It seems like there is a performance/optimization problem.
My assumption is that Stefan do not experience this bug because he have a FP1(U), as far as I know the 4.4.x development was done with an FP1(U) but I have an FP1 from the first batch. urs_lesse and joergschulz which phone do you use FP1 or FP1(U)?