Still not satisfied and needing to explore more with regards to excess dietary fat, I came across this on cross fit. Which seems to suggest that insulin is not the only hormone responsible for fat storage.
#1: Protein does a decent job of raising insulin and it takes very little insulin to affect fat cell metabolism.
#2: Dietary fat affects fat cell metabolism with NO INCREASE in insulin. At least two studies, using oral fat loading found a decrease in HSL and an activation of fat storage despite no increase in insulin. The apparent culprit, a little bastard called acylation stimulation protein (ASP) which is activated by the presence of chylomicrons (basically packaged triglycerides that are found in the bloodstream after the meal). ASP increases glucose uptake into the fat cell, increases insulin release from the pancreas and has been described as 'the most potent stimulator of triglyceride storage' in the fat cells.
So I did a bit more googling and came across an article which seems to explain the piece of the puzzle that was missing from all the standard low carb literature.
Essentially it's that pesky hormone ASP and it's ability to assist in the storage of excess dietary fat in the absence of insulin - which, when you think about it would have been crucial for our survival - had our bodies been literally starving, the body should not readily give up valuable fat energy because of the absence of insulin, there must be another mechanism for storage - from a survival point of view it makes no sense.
So in steps the hormone ASP which will allow the body to store dietary fat, even when insulin levels are low but it's not all bad, it's not as powerful as insulin and not as long lasting and may not affect your weight (but it might be causing you to stall) but that all depends on how much you produce. Alarmingly - atheletes seem to produce loads after intense exercise, suggesting you should hold off eating for a while after a work out, till your levels return to normal.
Anyway for those who are interested - this is a good article, that goes some way to explaining the theory.
sparkofreason.blogspot.co.uk/2008/06/swift-kick-in-asp.html