I've actually done this once before, but with whole hops. It was like cooking spinach, but with far less liquid. Unfortunately, even 6 months later it is still incredibly murky and pretty much undrinkable. It sort of looks like when you pour Guinness from a nitro faucet, but the head never separates. I'm not really sure what is keeping all the gunk in suspension, but it hasn't even started to drop out all this time later.
The flavor is much like raw hops - instead of the typical bitterness from dissolved iso-AA's in beer, you get a sharp herbal bitterness, and some coarse woodiness. It's as if there is a considerable amount of hop material in suspension and it gets dropped on your tongue with each sip.
I kind of had it in my head that I would be OK if I used pellets instead of cones at this hopping rate. Guess I was wrong. Aside from the sheer volume of hop solids, I suspect one of the reasons why this murk isn't dropping is that there's no way for cold break to congeal and pull additional solids out. Obviously, this isn't a free-flowing liquid as it cools. I have some Super Kleer KC laying around, so I'll probably give that a try unless by some miracle this happens to drop bright in primary.
And, just in case you were wondering why I would waste a pound of hops in such a spectacular way, I got this idea from another thread where Belma came up. I realized that I had absolutely zero plans to ever use the rest of the pound I bought last year (I actually had 17.5 oz left - HopsDirect packs a fat bag). I figured instead of letting them sit in the freezer forever I'd see if you could actually get some decent hop character if you use a whole lot of them.
By the way, the remaining 1.5 oz left after the pound that went in at flameout is going in as dry hops. You can't brew a beer like this and not dry-hop it, right?