exmarine said:
I understand the Kerr metric has an off-diagonal term between the rotation and the time degrees-of-freedom?
"Degrees of freedom" is not really the right term, but yes, there is an off-diagonal ##dt d\phi## term in the Kerr metric. More precisely, there is one off-diagonal term in the Kerr metric in Boyer-Lindquist coordinates (which are basically the analogue in Kerr spacetime of Schwarzschild coordinates in Schwarzschild spacetime); in other charts there may be more than one. A coordinate-independent way of putting it is to say that the "time translation" Killing vector field in Kerr spacetime is not orthogonal to the spacelike hypersurfaces in which the orbits of the "rotation" Killing vector field lie.
exmarine said:
a test mass falling straight down toward a large rotating mass
Strictly speaking, the Kerr metric does not describe a large rotating "mass" such as a planet or star. It describes a rotating black hole. It is believed that the Kerr metric (or at least a portion of it) also describes spacetime, at least approximately, around a rotating mass like a planet or star, but this has not been proven.
exmarine said:
from infinity will begin to pick up angular momentum?
No, it will begin to pick up angular velocity. One of the counterintuitive things about Kerr spacetime is that nonzero angular velocity does not always mean nonzero angular momentum. A test object that starts with zero angular momentum at infinity and falls into a Kerr black hole will have zero angular momentum throughout its fall--angular momentum is a constant of the motion for freely falling objects in Kerr spacetime, just as it is in Schwarzschild spacetime. But because of the non-orthogonality described above, this zero angular momentum object will pick up angular velocity as it falls.
exmarine said:
Is that what’s called “frame dragging”?
It's one manifestation of frame dragging, yes. There are others as well.
exmarine said:
Did the Gravity Probe B verify that effect?
It verified a different manifestation of frame dragging, its effect on a gyroscope in a free-fall nearly circular orbit about a rotating mass. (Note, again, that the presence of frame dragging in the spacetime around the Earth does not prove that the Kerr metric exactly describes that spacetime. It only proves that there is one particular term in the metric around the Earth that corresponds to what you would get if you did a weak-field approximation based on the Kerr metric--more precisely, based on expressing the Kerr metric as the Schwarzschild metric plus small perturbations.)