I was wrong
...about Red Hat's EULA and its enforceability according to the license terms of the GPLv2. (Specifically in reference to my blog post last Wednesday).
And for that, I apologize.
Basically, the GPLv2 says there can be "no restrictions" placed on any use of the source code provided to any user of the software with its license.
Red Hat's EULA says that Red Hat reserves the right to terminate your business relationship (the Red Hat Subscription) if you redistribute the source code.
This doesn't restrict your right to share the source code that has been previously provided, since you are still free to do so.
It doesn't make sense logically, and certainly not ethically (I don't think anyone could argue this is in the spirit of the GPLv2 license), but legally, logic and ethics sometimes take a back seat to interpretation.
Update: I still think a court case could go either way given enough money and good lawyers, but apparently IBM's lawyers don't, otherwise they wouldn't have written the EULA.