allowableMovement seems to be ignored

The allowableMovement property in my UILongPressGestureRecognizer seems to be ignored. I created a new project (Xcode 4.5.1, iOS 6) using the Single View Application template and added a Long Press Gesture Recognizer to the view. There's an outlet wired up and an action. Here's the code for the action method:

- (IBAction)longPress:(UILongPressGestureRecognizer *)sender
{    
    if (sender.state == UIGestureRecognizerStatePossible)   NSLog(@"possible");
    if (sender.state == UIGestureRecognizerStateBegan)      NSLog(@"began");
    if (sender.state == UIGestureRecognizerStateChanged)    NSLog(@"changed");    
    if (sender.state == UIGestureRecognizerStateRecognized) NSLog(@"recognized");    
    if (sender.state == UIGestureRecognizerStateCancelled)  NSLog(@"cancelled");
    if (sender.state == UIGestureRecognizerStateFailed)     NSLog(@"failed");

    CGPoint locationInView = [sender locationInView:self.view];

    NSLog(@"long press: allowableMovement= %f, x= %f, y= %f", sender.allowableMovement, locationInView.x, locationInView.y);
}

If I press long enough and let go I get this in the log:

2012-10-30 20:24:41.449 Long Press[1078:907] began
2012-10-30 20:24:41.455 Long Press[1078:907] long press: allowableMovement= 10.000000, x= 210.500000, y= 99.500000
2012-10-30 20:24:42.880 Long Press[1078:907] recognized
2012-10-30 20:24:42.882 Long Press[1078:907] long press: allowableMovement= 10.000000, x= 208.500000, y= 96.000000

This is what I would expect.

But no matter what I set allowableMovement to (positive, negative, big, small), once the state is UIGestureRecognizerStateBegan, I can drag my finger all over the screen. The state changes to UIGestureRecognizerStateChanged and there are frequent updates and locationInView continues to accurately track. When I let go I get the UIGestureRecognizerStateRecognized