Changing Gravity Settings for Xbox Joystick Input

In the joystick Axis input field there is a setting for changing the speed to how fast Joystick axis resets to neutral. This seems to have no effect on my 360 controller. My characters moves around in a snapping matter rather then slowing down as intended (as it works with keyboard control.)

Is there another setting somewhere in the program that I can change to affect this value?

I have the same problem (with the same Joystick)

Anybody solved this problem?