On the ABS/Trac Off light, you probably have a bad wheel speed sensor which is part of the entire hub assembly and not replaceable w/o changing the whole hub/bearing out. Get it scanned to see which wheel it is and replace the wheel bearing on that side. I'd bet the ABS/Trac light will stay out then. I have the same issue on my GT right now.

If this is the case, go with a Timkin replacement as they seem to be the best on these cars.