Faucet gave it up.

The Dremel tool with the new right angle attachment and cutting wheel forced the faucet into submission. Cut the main locking nut several times. The next problem was to scrape off the voluminous amount of silcone caulking that was under the old faucet.
The new Moen faucet went in without any troubles after all that.
Water came out in the right places and stayed in the right places.