I just don't think the ridge is really an issue, doesn't harm anything. Bothersome yes, but inherent to the design. Good point on the pads Larry, choose your pads wisely. Worry more about how well the car stops and less on wheel dust, IMHO. Yes the harder pads are more prone to squeeling and I don't think the cars stopping distance is improved, probably worse, but less dust and last longer. You'll have less dust and longer lasting brakes if you toss a boat anchor out the window, but that ain't really stopping you better, is it.....
Oh I should point out if the ABS light came on while making a significant turn (say at an intersection or turning a corner in a parking lot, etc, more than say 1/2 a turn of the steering wheel), then quite likely it's a bad wire in a front wheel speed sensor.
Gilly