UPDATE!!!!!!!!!!!
Turns out that the Grease/oil on the rim was Transmission fluid. There is a Transmission fliud cooling line that runs behind the Drivers side front tire, and the line was leaking around the clamp that holds the line in place.
It wasn't an expensive part, but I had to have a front outer tie rod replaced as well as both sabilized links so it turned out to be more money then I thought.
total about $600.00 CAN (over half of which was Labour, gotta love the FORD dealerships!)
