Hi Lorne,
There are a couple of reasons your label isn't rotated.  First off the ^FW command is essentially a default to rotate fields.  It only works if you don't specify a field rotation for each field.  Your label does specify normal (N) in each field so the ^FW command is not used.  Also, just because you rotate each field, doesn't mean the entire label is rotated.  There is a lot of interaction between location, typeset, and field rotation.  We actually devote an appendix in the ZPL Developer Manual (p 1243) to just this topic.  I took the liberty of putting your label into the Zebra Designer label tool and rotating it. After a little manipulation, I got something that looks similar to your label, but rotated.  You probably will need to adjust it some more, but this will hopefully help.

^XA^POI^FWB
^PW812
^LL812
^FO80,50^GB180,600,4^FS
^BY4.4,0,150^FT250,620^B2,150,N,N
^FD>;30061045786565^FS
^FT300,500^A0,45,40^FD3  00  61045  78656  5^FS
^FT440,600^A0,35,30^FH\^FDPart/Model#:^FS
^FT500,600^A0,35,30^FH\^FDDescription:^FS
^FT560,600^A0,35,30^FH\^FDQuantity:^FS
^FT440,400^A0,55,50^FH\^FD78656^FS
^FT500,400^A0,40,35^FH\^FDFB50V ORB626^FS
^FT560,400^A0,40,35^FH\^FD4^FS
^PQ1^XZ