I have similar symptoms and will be changing out both my wheel bearings once it warms up just a bit more- so I've bookmarked this howto. Just fyi.

http://www.fordrangerforum.com/how-s...-bearings.html

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2004 Ranger FX4 Off Road 4.0L V6 Stepside: Tekonsha Prodigy brake controller, Flowmaster 40 Series Delta Flow muffler, and custom xcab storage

RIP... 2001 Ranger XLT 4x4 3.0L V6 Stepside