Oh yeah, the good ol bobbing in the ground.

Try this ides, just say the player is falling, the trace is returning a value > 0, do an if statement that says, while the player is falling, check to see if result > 0, the moment that result < 0, make player.z = result; (check and do this before the next wait instruction), so that the player's z does not drop below the result value. The other thing I did, if I were moving the player's z based on a force and velocity vector, then the moment result is say < 2, I set the falling velocity to 0, to dramatically decrease the bobbing. I think that's what I did anyway :P