tsched_watermark determines how much the alsa sink needs to leave headroom to the buffer so that it has enough time to fill the buffer before an underrun. The watermark is used when calculating how long to sleep before refilling the buffer, but it should also be used when rewinding, because after the alsa buffer has been rewound, the buffer needs to be immediately refilled. That will of course take time, and if you don't take tsched_watermark into account when deciding how much to rewind, the buffer may be too empty to get the refilling done in time. Discussion: http://lists.freedesktop.org/archives/pulseaudio-discuss/2012-August/014513.html
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