Good news! I've gotten it to work!
Bad news... it depends on a heavy (but free) Eclipse-based IDE (however, it uses gcc-arm behind the scenes, so there is no code-size limit!). Also, no mbed libraries, nor JTAG/debugging. But that might just prompt me to write an LPChere framework ala MSPhere, and there's always serial monitoring.
I'll be doing a blog post later. For now, I must be off. Just thought I'd share the good news!