Wow! The classic fix for Autodesk Maya seems to apply here too!

I hate preferences resets because it never feels like you actually find the issue but it seems to fix this one. I checked the smart guides settings before and after which didn't change at all (set to default the whole time) so I guess this will forever remain a mystery. In any case, that's how ya fix this one.

Egor Chistyakov was bang on with the behaviour mirroring the ctrl key function but my ctrl key works as expected so it wasn't stuck down or anything, it just never toggled off. Strange stuff! In any case I'm happy to be on the latest version again.

Also I accidentally hit the "flag as inappropriate" button and there's no way to undo that, sorry Cris!

@Egor Chistyakov, this one is for you! My problems are related to the pointer position and previous location of objects being dumped into the smart guides feature which makes it absolutely frustrating to use. Why anyone would want to align an object to where it is already is beyond me. Beyond that, introducing the cursor position as a point to align to breaks the point of having smart guides align to static pieces of content in your document, the mouse cursor isn't aligned to anything and moves constantly with no geometric relation to any other vectors, having it affect your alignment of content is very unhelpful for this reason.

In any case, this video should clear up the differences between both versions and if this is a feature and not a bug it really needs a toggle somewhere in the settings because currently none of the Smart Guides settings seem to affect this function. I've uploaded it to YouTube because this website doesn't seem to like posting comments with videos and the upload never finishes. https://youtu.be/O3wko2SN930

Henry (and Martin too), can you record a video or even a GIF (like with LICEcap) that shows what does work for you in your current 24.1.3? I'm trying to replicate these problems, using your text description and I can't. Don't install the 24.2, just show in the previous one.

Can confirm, with Smart Guides on they are vastly inferior to the previous version, this is incredibly irritating. Snapping to the outside of an object seems to work unreliably and snapping to the centre or inside edges of an object doesn't work at all and favour's the mouse location instead of the points of the geometry I'm trying to move.

This is a wildly basic integral feature that users depend upon and I am frankly upset that this update was pushed in such a broken state. I don't know what the heck is happening inside Adobe but if this is a situation where the QA department flagged this and management told you "ship it anyways" just to have all your apps update on the same day y'all need to seriously re-evaluate your priorities.

Downgrading to 24.1.3 fixes the issue but holy cow am I mad about losing an hour of work diagnosing this dumb and rather annoying problem.

EDIT: I am unable to replicate this behaviour exactly as described. Upon further review I think the issue is related to the mouse pointer position being factored into the smart guides creation resulting in them being created in positions that nobody wants them in. I have posted a video explaining this in this thread for further clarification.

Also holding shift and dragging an object is broken as well!