Front Suspension Wheel Bearing problems of the 2003 SAAB 95

Purchased a "certified pre-owned" 2003 SAAB 9. 5 aero in late August 2006 began hearing horrible (and worsening) grinding noise soon after purchase. We were thinking it was the brakes needing to be replaced. . . Took it to a well respected national brake shop who told us we needed new right side wheel bearing and the cost would be over $700. 00 the car has less than 60000 mile on it and I have done some research to find that I am not the first person to have this problem with this make/model think it is a defect that could prove fatal if not addressed immediately.