I hit reset immediately after starting to boot from an SD card with an Android install image. I must have interrupted it in the middle of erasing or writing the NAND as the device was bricked.
The default boot order is
NAND -> USB -> UART -> MMC so if the NAND is hosed the device won't boot. Holding the user button at power on changes the boot order to USB -> UART -> MMC -> NAND. (http://elinux.org/BeagleBoardRecovery).
My board has the user button. By hoIding it at power up I was able to bypass the NAND and boot directly from an SD card, re-installing Android and restoring the NAND in the process.