What I was looking for was yes, a massively stripped down version of FreeRadius or if someone has done some work along the lines of:
FreeRadiusLite + SQLite which would support EAP auth... however I am not sure how much load is put on the Radius server from (P/L)EAP(-TLS), but it would make for a very tidy solution to have it all on the local router.
I only want to have a pool of about 20 or so users, but using RADIUS so I can have individual logins via Chillispot or similar captive portal and / or associations via EAP using the same username and password, onto a different SSID with WPA2 enabled. This would also give accounting / quasi billing to monitor usage over the WIFI to make sure no one is being too excessive on the traffic front.