This is something you never saw 30 years ago, but now rims are lighter and tire pressures are higher, so I can see where they'd fail that way. Yet another advantage of sew-ups - sew-up rims don't take air pressure stress from the tires/tubes. If one failed, the rim sidewall could collapse by 1/2" but the tire would stay in place and remain fully inflated.
eden or hellosunshine, did you notice the rim expanding (maybe the brakes needing to be loosened) before the rim failed?
Oil is good, grease is better.
2007 Peter Mooney w/S&S couplers/Terry Butterfly
1993 Bridgestone MB-3/Avocet O2 Air 40W
1980 Columbus Frame with 1970 Campy parts
1954 Raleigh 3-speed/Brooks B72