Diesel911: Thanks for the very helpful and lengthy write-up! Very useful for improving my understanding. I appreciate it.

tyl604: The wheel did seem hot. Clearly a sticking piston.

Easy fix: I replaced both front Bendix calipers w/rebuilt Bendix calipers. Inexpensive fix, too: About $155 in parts. Quite reasonable considering, as I initially stated, almost 16 years old and 88,200+ miles on the replaced calipers. I had no interest in doing caliper rebuilding myself.

Thanks for all of the help on this thread!