I have one of the offending cubes -- yes, it \is/ falling apart.
The colored faces have developed crinkles, holes and some are even
peeling off. This is after only 4 weeks of use.

Taking the cube apart and sprinkling its insides liberally
with baby powder will effectively lubricate it (although it will smell
for a while) and make it essentially noiseless, I have heard.

-Landon-