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Doesn't disabling "Set the same volume for all tracks" in advanced prefs disable normalization?

Yes it did, but they removed that option, at least in the Mac OS X version of Spotify.

[edit] Apparently it has been added again in 1.0.5.x, but I'm not getting that update yet...

It's there for me, in version 1.0.5.178.g885b099b on OS X.