We report new observations of the prototype main-belt comet (active asteroid) 133P/Elst-Pizarro taken at high angular resolution using the Hubble Space Telescope. The object has three main components; a) a point-like nucleus, b) a long, narrow antisolar dust tail and c) a short, sunward anti-tail. There is no resolved coma. The nucleus has a mean absolute magnitude H_V = 15.70+/-0.10 and a lightcurve range 0.42 mag., the latter corresponding to projected dimensions 3.6 x 5.4 km (axis ratio 1.5:1), at the previously measured geometric albedo of 0.05+/-0.02. We explored a range of continuous and impulsive emission models to simultaneously fit the measured surface brightness profile, width and position angle of the antisolar tail. Preferred fits invoke protracted emission, over a period of 150 days or less, of dust grains following a differential power-law size distribution with index 3.25 < q < 3.5 and having a wide range of sizes. Ultra-low surface brightness dust projected in the sunward direction is a remnant from emission activity occurring in previous orbits, and consists of the largest (>cm-sized) particles. Ejection velocities of one micron-sized particles are comparable to the ~1.8 m/s gravitational escape speed of the nucleus, while larger particles are released at speeds less than the gravitational escape velocity. The observations are consistent with, but do not prove, a hybrid hypothesis in which mass loss is driven by gas drag from the sublimation of near-surface water ice, but escape is aided by centripetal acceleration from the rotation of the elongated nucleus. No plausible alternative hypothesis has been identified.