the bearing and hub assembly come as one unit (i.e. hub bearing assembly). although i can't remember how much it cost me for the assembly...

 

That's not a bad price.Cheapest at rockauto.com is $122.79. I paid $90.00 a long time ago(4-5 yrs.)

 

If you do need a new wheel bearing go to Advanced if you have one close to you. My friend got one from Pepboys with an employee discount for around $150 and they had to order it in. I got mine a couple months back from Advanced, I knew somebody there and got it for $122 (their full retail price was still cheaper than pepboys I think) but advanced stocks them now.

 

if you can rock the wheel and the motion comes from the center, its the wheel bearing. (like yours). ball joint motion is usually a much smaller movement and requires some real effort to push it around.

timkin bearings are the best. they're about $180 each. there's a lot of threads on here about bearings. some go easy, some are really really hard. i got lucky, mine were easy. here's some nice info.
http://www.pavementsucks.com/tech/hub.php

 

The hub and bearing is one assembly, $120 is right. And it's not that bad of a job if the bolts and spindle nut is not rusted on.