I just got home from one of the longest days of my life.
Thank you for your feedback and quick response. Honestly... Your feedback made me feel much better about my decision to bounce ASE. I was feeling that I should have known a better way to resolve, but used all the stuff in my bag of tricks and still no success.
We did just that, we ended up just shutting down the ASE server and restarting. The challenge though, we had to do a "shutdown with nowait". A regular shutdown wouldn't work. Luckily for us, all came backup up and is running smoothly now (all databases online, no corruption, etc.).
If you ever come accross a better way to resolve a ghost spid, which is causing catostraphic blocking, please let me know. I'd love to learn.