Originally Posted by desmodue

Steel can compress, but that's not what happens in this case. The proof against it compressing is that it relaxes when the QR is released. Compressed steel (plastic deformation) doesn't spring back to it's original shape.

Does the axle flex (elastic deformation)? If it does, that doesn't give me a lot of confidence in the axle integrity.

I would say the most likely culprit is: Thread tolerances of the cones, lock nuts and axle