I had the wheel bearing problem. The noise changed as I steered left or right. Also, when I jacked up the car, there was a very noticeable amount of play in the wheel with the bad bearing.
What about the axle assembly? Do you notice any play in it?

95 Contour Zetec, ATX (wrecked, sitting in the barn) 95 Mystique Zetec, MTX 2000 Taurus SEL 3.0L Duratec 1994 Crown Victoria LX 4.6 V8 1993 Chevy Silverado 4.3 V6