Well, I've given up. This problem has persisted since the release of Mountain Lion for me. Indeed, switching my late 2011 Macbook Pro to dedicated graphics solves the problem. But, I prefer to stick to integrated graphics to save battery life. A web browser shouldn't require dedicated graphics to run reliably. Quitting Safari and restarting it also temporarily solves the problem, but it comes back fairly quickly. The problem even persists after a full reformat (which I did for unrelated reasons). So, I've had enough.
I've switched to Firefox until this is resolved. These glitches aside, I've been happily using Safari exclusively since Safari 5. Until Mountain Lion was released, it ran perfectly on my Macbook Pro and on my old 2008 Macbook. The iCloud integrated features are wonderful. I love having my bookmarks synced to my iPhone. The tab syncing has been exceptionally useful. But, I'm going to have to do without those features for a while. I'll give Safari another try once the next version is released.
So, Apple, please fix this. Safari is a great browser, and were it not for these glitches, I'd still be using it.
PS: You have no idea how nice it feels to type some text in a browser without it glitching and messing up with every character I type.