Well, your sample did help, though probably not for the expected reasons. Looks like FastLineBitmapSeries was the problem. I changed mine to FastLineSeries, works great. I changed yours to FastLineBitmapSeries, the flickering appears.
Not sure why it was using BitmapSeries in the first place, as I inherited this code, but I'm happy it's working now.
However, it still feels choppy... since the graph data only updates once every 200ms or whatever, it seems to stutter forwards. Is there a way I could have the transition smoother? I can't find a place to alter ActualMinimum or VisibleMinimum outside of the ActualRangeChanged event, which is obviously only firing when I add data to the graph...