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Stripped it out and LBS returned it to Ison who exchanged for a reconditioned hub (and I assume sent mine back to Germany to be reconditioned and then used as a replacement for someone else...). I was getting the wheel rebuilt anyway so no big hassle really, there was a bit of a delay as it was sent back just before Christmas and both ISON and LBS were shut for a bit and were waiting for reconditioned hubs to arrive back from Germany with the right drilling etc. all explained up front, probably would have been sorted within a week had it been any other time of the year.
Doing a bit more thinking, I'd forgotten (deliberately?) about a particularly grim stretch of bridleway in Wales where I must have submerged the hub (remember draining shit of of the BB) and another river crossing at 4am which was thigh deep - both times must have seen the hub underwater. The hub was on my 29er and it looks like I recorded 2000km on it (mainly in the Peaks, nice and gritty...) + ???km of regular evening rides at the two local trails for ~18 months, hard to say in total...
I have another SP hub on the road/cross bike - that's done 4000km of "rides" and around 2 years of commuting/errands and is still super smooth.
So is it a case of stripping the hub out of the wheel and sending back to the factory? Do you think anything else would have faired much better and would it have been worth it (I only ask as I'm about to buy the same hub) How many miles do you think you got out of that?
edit: realised that post was months old. What happened in the end, how long did it take to get back?