All (nearly) sorted.
Spoke to Condor first thing, and they said to pop by. I was in town this afternoon anyway, so took the Fratello in (was I at all nervous leaving a £3K bike locked up in Mayfair for a couple of hours? Only a little!).
So popped into Condor, they measured my seatpost with a set of calipers - 27.23mm - bang on.
Measured the hole in the seat-tube - 27.38mm - not so bang on!
Tried one of their posts in the hole - still wobbled.
Basically, the shim that is inserted into the seat-tube is not the right size - they've not seen this before (they did have a batch where the shim was too short a couple of years ago - leading to some failures around the seat cluster). So, they will replace the frame for me, as there's nothing that can be done with it. They'll also swap over all the components for me as well - so that's all good.
Only challenge is that they've sold all of their first batch of 2011 frames - so it'll be a month or so before this happens.
So, what to do in the meantime? They took the thinnest shim they had, and used half of it - and the seat post feels like it isn't going anywhere. The mechanic said it wasn't an elegant solution - but it would hold together for a month and keep me riding etc.
They were very apologetic, and didn't quibble about any of it - they'd measured the hole, it was wrong, therefore, it needed to be replaced.
Good service and hopefully resolution to the problem (though I may sue them for the distress caused to my knees on the Elenith!).