xrotate, yrotate, and zrotate object. They all rotate around the world axis. I've just recently got my head round this, but as local as the rotations appear to be, they are actually world axis rotations.
Ooops Edit: But it won't help you, because xrotation will act as a local rotation, so you wont be able to rotate around the worlds x-axis if you're yrotating. Its not possible. Also you wont be able to rotate around the worlds y-axis if you're performing any zrotation. Strictly speaking those rotations will be world axis rotations, but they wont behave as you expect because of the way the rotation is handled. I must admit, it does seem useless to me.
Insiiiiiiiiiiiiiiiiiiiiiiiide!