Disassembly revealed that the grease in the wheels had basically turned to glue. This a a new gearset so it must have sat awhile. Cleaning and reapplication of BVM grease has the wheels spinning freely, with no brake drag. What is really weird is both the socket head shoulder bolt axles were bent! Both bent at the start of the threads. And this gear has never flown... Luckily I was able to source replacements at a local hardware store, cheap Chinese hex heads but I imagine they will hold up. Toe in is still fine. Rolled the Hawk around today and ran it again, with the brakes cleaned and greased it rolls and brakes perfectly. Plus the Anti-skid function on the EV5 is really nice, proportional brakes!