Man you rock! That fixed it. In fact, that even exposed / fixed another issue that hadn’t even crossed my mind - the fact that upon providing power, the Pi was turning on automatically (with the USB hub plugged in).
Added the 1k resistor between pins 1 (3v3) and 9 (Gnd) and now the power button works. Shuts down, stay off, etc. Gets power, stays off until I hit the button, etc Woot.
Thanks to you and @niko - much appreciated!
Just some info (for any wary travelers who run into this same issue in the future and happen to stumble across this post):
My USB hub was the Belkin F5U404 Hi-Speed USB 2.0 4-Port Mobile Hub. And according to this link is noted as having: Faulty/bad design; Leaks current back up the cable to the Raspberry Pi.
To reiterate the fix: