So after shaking occasionally over a couple of hours. I let it settle and move the jar into the freezer. The oil at the top of solidified enough to be able to pour out the gin. The color had changed to a milky white, similar to the color of Ozo mixed with water. The smell was that of gin with a hint of olive. There was a smoother, creamier mouthfeel and a taste like I had added an olive to the gin. All in all not bad, but I'm not sure it was worth the effort for a simple gin martini.
This morning I tested it again (with an olive) for a wake-me-up martini (and to really taste it when I hadn't had a drink for a couple of hours. It is definitely a bit classier, I felt like it could have been served at fancy bar, but honestly not really worth the effort when I can just make a dirty martini with some olive juice.
However, after reading my earlier post, I could see experimenting with different liquors and fats. Next time I have lamb I'll save some fat and do a lamb rosemary vodka.
So to sum up, it does work but is not really worth it to a CA level drinker.