After another issue arose regarding the multiple returned geocode results in ArcGIS Server.Net, I did find that apparently there is a bug (NIM037331) that disregards the minimum match scores inside the web application. The workaround is to adjust the default.aspx page to the score you want, then restart IIS and viola - everything works.
However, in my situation, the default.aspx page is showing the correct score, but somehow the application is returning all search results even though it is set to not do so ("Show all results = FALSE"). Any ideas on why all candidates are still being returned?