I reassembled the ASC internal unit and it all spins very smoothly and freely. I can't do any more until I get a suitable shell (I could just use a skanky 70s AW shell but I'd rather have an alloy one). This weekend I shall be using my f-i-l's grinder to modify an old 4-speed trigger into an ASC trigger, with its special cable pull.
I suppose I could do the Dunwich Dynamo on it, if I get as far as building it into a wheel. Internally it looks pretty unworn, just very polished on the bearing surfaces. For general knocking around I can fit a sprocket to give 70" (direct drive), 63" (tired) and 52.5" (hill) gears.
Because the axle is so short, it can only go in the 50s clubman, which has flimsy 4mm plate dropouts and 120mm spacing. Any thicker and there isn't enough room to thread on the axle nuts securely, even when I cheat by spacing the hub to 118mm rather than 120mm. One day I'll get hold of another old frame and space it to 110mm, which is what these hubs were really meant for.