Thanks for the two replies. Yeah, I didn't think it was the hubs either. They don't have any damage too them.

The wheel was factory/stock, but I have kept an eye on the tension and truing.

I do in fact think that maybe the spokes have just called it a day. A good amount of miles on them, ridden in snow and rain (with road salt in the NE U.S.)

I am going to try to re-use the hubs, get a new set of spokes, and upgrade to a new rim, since I'm going to be rebuilding anyway.

Thanks for the opinions and advice!