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It's a Zipp 303. I had tried loosening the QR but it didn't seem to help. I only did it a fraction so I guess it's worth going a fraction more
Ah, shit Zipp rear hubs. They have a preload adjustment ring, which you can loosen off with a 2.5mm allen key, and then rotate to adjust the preload. If it's anything like my Zipp hubs, you'll have a choice between (1) loose, so the rim wobbles from side to side; or (2) tight, so you get rampant freehub drag. That's why I've already replaced three Zipp rear hubs with less shit replacements - Tune, DT180S, Hope.
What rear wheel/hub is it? My Powertap hub was doing this, turns out that I had been clamping the QR far too tight and due to the Powertap assembly, this was restricting the freehub from spinning...