Yup. I took up a bridge in the Undercity for around 10 minutes, and started jumping off it and casting Blink on the way down. It was great amusement. A few times I popped back up (but didn't land on the bridge) and kept falling. Usually, I'd be placed over the bridge while hovering, in an infinite fall. Unlike the other bug I found, I could actually be seen hovering by others.
Wasting time is fun. =)