I admitted defeat and took the wheel to the LBS on my trip to pick up some tires, rime tape and pedals. As soon as the mechanic heard what I was asking him to do he said "well I can try for about 5 minutes but sometimes it just takes a lot of banging".

And wouldn't you know it.. I failed to follow the cardinal rule of penetrating oil which is to let the stuff work! Two good smacks with a ballpeen hammer and punch and the hub started to spin.