Simple question really, does any other xbox (and PS3 for that matter too) experience excessive screen tearing wehn playing the game ? Especially on the map screen, it ain't game breaking but it's annoying anyhow.

Or have I not configured my screen settings properly ?

This also happens frequently to me (xbox) but not on the map screen, though. It happens when I'm rapidly browsing through Inventory items, some of them just jut and tear the whole screen at random. It's never been critical, like you say, only annoying/amusing/distracting.