So, there's definitely a bug with the Kings gift giver. He's supposed to only show up every 2 days, instead he's showing up constantly in Freeside North/East.

The script in question is either:

VFSReputationBenefitNorthScript
VFSReputationBenefitEastScript

Both reference VFreeformFreesideSCRIPT.DaysPassedSinceLastGift

Looks like the "if DaysPassed >= 2.0" block never sets VFreeformFreesideSCRIPT.DaysPassedSinceLastGift after enabling the actor who runs and gives you a benefit gift. So the next time you enter the cell, you get the gift over again.

Anyone else encountering the same issue? Is there already a mod to fix this?

Well, after not finding one on the Nexus, I whipped one up.

Freeside Kings Gift Giving Fix
http://www.newvegasnexus.com/downloads/file.php?id=36640

Seems to work fine with limited testing. At least now I won't get spammed with gifts as I'm running around Freeside doing quests.