Yes, you should have exchanged it - it obviously has problems. It sounds like you want a good Rickenbacker so why didn't you send it back to exchange it for a good one? Maybe you just want something to complain about? Or do you really want a good one? If so, exchange it. Do you really think that we are all making this up that we have high quality Rics? No, we are not. You apparently got very unlucky and got two duds in a row - I have never seen a dud ric so I can just assume you got very unlucky. Talk to the store and tell them to INSPECT the third one before sending it out - tell them about your run of bad luck with the exchanges. If you simply keep it, you really can only blame yourself when you have every right for an exchange. It sucks to have to do this, I know - I had the same problem with a Mercedes I bought new - it was a very expensive car (also known for quality I might add). Mine had a very significant flaw - I had to take it back three times to get it fixed. Should I have just "lived with it" - and then complained on forums about how crappy Mercedes are made? No. I wanted a nice Mercedes and I kept on the dealer until the major problem was corrected.
I contacted RIC, they didn't care... why oh why should I expect them to care, should a 3rd one have issues.
I've got way better things to do than complain... but the O.P. asked us for what to look for, I answered... so far you haven't.
Believe me when I say that I would have much preferred a "good one", but after two not so good, you would be making fun of me, like you are now, for thinking that I "might" get a good one... I see no win for me in carrying on this discussion with you.
Fishheadjoe