Wheel bearings
 

So if I understand this correctly, each hub has 2 bearing assemblies, and each assembly is the same. So to do the wheel bearings on both hubs, I will need 4 sets of bearings(outer race and inner race with bearings and cage constitutes one set). One inner set and outer set per side.

yes, also they do sell kits with all the seals and bearings (per wheel)

If you do your wheel bearings you should most deffinitely replace the seals also. If you already have bad wheel bearings and youve got a little ways on them, Save your time and order a spindle. These wheel bearing races tend to weld onto the spindle and ruin them Ive replaced all four of my spindles and bearings and seals on all four of my wheels. As Disco Mike will recommend when doing your bearings also drain and refill your diffs. Also give your brakes and rotors a good look over while your wheels off.

There's no reason to replace a spindle (stub axle) unless it's damaged beyond reclamation.
I've had a bearing seized on to the stub axle such that I had to used a puller to get the bearing off. It cleaned up without a problem and I put another 165,000 miles on it.

The problem with the kit is that they come with the crappy discovery hub seals.

Also drain and refill those front swivel things with the big ball looking piece.

8 bearings total for all the wheels
4 Grease Seals (RTC3511)
and a jar of high temp bearing grease
:)
Right?

just a little tid bit for you...master pro wheel bearings (oreily special) have the exact exact part numbers etched in its bearings and races as timken

I have the bearings for the front wheels already. Cost me $6 each set for SKF BR37. Will get some seals so I can do the job hopefully soon. My bearings are good, I just figure they have probably never been done, so might as well do them. I have to buy the parts a little at a time...so the wife doesn't go into sticker shock. Have to make it look like normal maintenance costs. Then when it's all done, I can get my TDI.

So what does that mean? They are the one and same or they just have the same number and Master Pro suck still?

Where did you get the SKF at? I have been looking around and the cheapest I can find them are about $10, and only for 1 bearing. All the way up to 18.51. Timken are $16.50 at AutoZone.

I have master pro in mine right now in the front...when compared side by side to Timken..they looked and felt EXACTLY the same

FYI most of Timken is now built in Mexico as well..ALSO Timken sells out their name and specs to other makers that make bearings now as well.....