After learning a valuable lesson in exactly how dynamic library work and the recommended process for live libc upgrade (don't do it if ABI changes) I fixed it by using my IRC client which was already running so unaffected to get a statically linked copy of /bin and /sbin from another machine, via DCC Send...
Recovery then consisted of restoring libc5 from slackware 3.2 install media.
I can't remember how I got root, either su was statically linked (believable since it's setuid) or I had a logged in root session. I did have to used the tcsh "echo *" trick for file listing and the shell built-in cd...