Just to update quickly...
Went through all for wheel sensors with the oscilloscope, and all gave pretty good signals. Just to make sure I went through each sensor in turn and bypassed it, connecting the sensor on the other side of the axle to both ECU inputs (ie, connect front left wheel sensor to both front left and front right connectors on the abs wiring loom, bypassing the front right, etc etc), and still the pedal jumped around of its own accord when driving slowly...
So, each sensor has good resistance, seems to give a stable signal on the oscilloscope, and makes no odds if its bypassed... I am swaying towards it not being a wheel sensor. And if it is, its got to be at least 2 of them!
So, question now is what is left:
ECU,
Pump / valve unit / master cylinder
Is there a speed sensor anywhere?
Guess a lot more cable tracing needs to be done, check all earths and make sure there are no damaged / shorting wires anywhere. Don't know why this would only affect the system at very low speeds though...