Thanks for the prompt reply Brian.
It's cool that those two configuration options are planned, I think I may remove the title link manually for now like you suggested so I'll mark this as resolved for now.
While I see the SEO value of having each product as a separate page for a <H1> title and meta, I also see it as risky when my category pages will already have the full product descriptions. So when a user clicks through to individual products they will see no new content - it will be the same image, same full description/quote, and same title (though in H1) - those pages will hold no additional value to them.
So I don't think that's something Google would value either, and even if the dupe content is fine by Google it would still dilute the value of links I DO want to include on my category lists to other internal pages, and the power of the lists themselves.
I don't have a definitive reference for this, it's one of those annoying vague SEO issues after all, though I guess SEOmoz is as good as any:
General consensus from reading around though is that categories with snippets of the descriptions = fine. Full descriptions on categories AND product pages = not so much.
But best to just leave it up to people with an option. (By the way, an option to make the product image the aff link would be cool too.)