I ran a few basic A/B tests on some handscanner software used in large warehouses. The basic premise is that the user is being directed where to go and what items to collect. The customer wanted to know how changes to font size and colour of certain text would improve overall user efficiency. But the caveat was that we had to present a consistent experience to the user- you can't change the font size every 10 seconds or it will definitely degrade user experience!
My point is that it sounds as though the 1-armed bandit will probably work great provided the test is short, simple, and the choice can be re-made often without impacting users.