Quogue, I also have a strong background in electronics and theory, so we should have no problem communicating. You got a shock because of a potential difference between the tool case and the surrounding earth and/or structure.
If the continuity of the EGC prevented a shock, that's because it brought the case of the tool back to earth, where it belongs. It had a lower resistance than your body, and acted as an equipotential bond.
It is certainly within the realm of reality that, during the time that the intact EGC was preventing your shock, current was flowing on it. Why the GFCI didn't trip could be due to any of several reasons.
The presence of an EGC has no bearing whatsoever on the function of a GFCI. On the other hand, a solid connection between the supply neutral and the system ground is paramount to the GFCI functioning.
A floating (non-grounded) system cannot cause any current to flow between any one conductor and earth. (By non-grounded, I'm including absence of capacitive coupling.) If neither conductor of a circuit is grounded, contact with the other will not cause current.
Now, theory aside, it is possible that you received a shock with less than 5ma of current. It's also possible that the GFCI in question was not functioning properly. Using Ohm's law, a 24K resistance would allow 5ma to flow on 120v.
I suggest using a 22k resistor as a test load, applied between the GFCI's hot load terminal and either the circuit's EGC or an external ground. If you want a better test, use a 50K variable resistor and an AC ammeter to test the trip point.