I'm currently experiencing this issue also. Updated to latest firmware, also using the ableton script as recommended, and Global settings on Midi control centre set to Fast, but when i'm controlling parameters on a native Ableton plug-in, like performing a frequency sweep on an Auto-Filter for example, it takes more than four rotations to complete a full-sweep with the Minilab, but with other MIDI controllers i have used in the past, it seems to achieve this in one or two max.
I've seen some other reports of this knob rotation issue like in the thread linked below, which describes the issue quite well:http://www.arturia.com/evolution/smf/index.php?topic=13422.0
Here you advised it's a Relative / Absolute issue and that the latest firmware update has fixed this problem. But i don't think it has, it's still behaving the same as prior to firmware update.
I purchased this controller earlier today and since unpacking it i've been pulling my hair out, troubleshooting some of the issues, like the relative/absolute one. Had to google search fixes which didn't seem too helpful at first until i finally stumbled across this forum and learnt about the firmware upgrade/ableton scripts i needed to install to fix the problem, but even after doing that, i'm left with this problem of rotation knobs changing parameters slowly (like Rob has mentioned above), despite doing everything you have advised in various threads to fix the issue.
Any help would be appreciated, I'm contemplating on returning this controller soon, but if there is a definite fix for this, then i will hold off.