Ok, got a chance to look at it. Wheel off, Brake caliper off, no problems with the caliper. Brake disc off. Drum parking brake looks rusty, but looks OK. Axle CV joints are most likely OK, because the seals are still intact. Although they are weather-worn and should be replaced soon. I guess now is a good opportunity.

So I'm suspecting wheel bearing. How do I get to it? Do I need to remove the rear diff and axles, then use that large specialty nut I saw a little about when I did a bit of research?