Kuo,
I did solve the problem of small bubbles, sort of.

The final method that I am settled with, is to block 3 of the 4 holes of the old Cremina steamwand. The pressure is set to cycle between 0.9-1.1 bar. This gives me the best microfoam I could get and good 2-3 shots espresso per session which is more than enough. It takes about 30-45 seconds(vs 15-20 seconds of 4 holes) to steam the milk, but the result is unparalleled.
Another reason is that because I steam a small amount of milk, ie 3-5 oz mostly and 6.5oz max, I realize the 4 holes isn't the best for me. To utilize the 4 holes, you need a very high pressure setting and steam a bigger volume of milk. Technique could improve the result but it would take almost impossible amount of practice with super tight margin of error. I recon I am a fast learner but I totally give up on the 4 holes after endless hours of training.
I actually even spent about $70 to get the new 2011 steam wand with 4 holes, and even Espro pitcher. But there's no way the result could even touch the microfoam from old steam wand 1 hole. (maybe I am just dumb

) Note that the 2011 steamwand has 0.9mm holes and 67 steamwand has ~1.0-1.2mm holes. For single hole usage, the 2011 hole was too small and creates too little steam velocity. The '67 steamwand is perfect for using as 1 hole steam tips.
Anyway, for your maximatic, I would suggest crank up the pressurestat (to maybe 1.2 or higher?) and use a bigger volume of milk. It would require more flushing but it might be worth it for the result. Or block the holes as I did.
Even for microfoam without visible bubbles, there're actually different levels of mouthfeel. I am not looking for art pouring but the best mouthfeel. So, to get that, single hole with old Cremina steamwand seems to be the best answer I've reached.