Steering problems

I am posting this topic more or less for confirmation to my soloution to my problem you can never in my opinion have too many opinions

anyway i have a 85 caddy fleetwod FWD first i noticed what sounded like the tire might fall off if i turned to hard to the left so i jacked it up and what my first opinion was furthur more confirmed (IMO) after jacking the car up i grabbed hold of the tire and gave her a shake as i thought it had some major play so i took the the wheel cover off and grabbed the spindle and shook it and sure enough play

so my diagnosis is Wheel bearing if this is the case am i better off replacing the bearings seeing as how the've probably never been replaced before are probably going to be as good as welded in and need to be professionaly pressed out or to go with a wheel bearing hub assy

cost difference if i can manage to get the bearings out my self it should only cost a day and around 10 bucks but if i can't get them out I can only guess how much it will cost

if i go with the hub assy it will cost around 80 bucks

my questions are
is my diagnosis correct
which would be easier to do
is there anything that may cause a headache when i get into it

i've also got another prob with my power steering pump and am not sure what could be causing it my power steering fuid is turing green and blackish not really a grey so i don't think it's metal shaving off into it but i don't know what it is or if replacing it will do any good it doesn't seem to affect the steering

thanks for any input you all can give sorry such a long post