The only thing that will wear on the spindle, is the wheel bearings worn out and the race spin on the spindle. I would think that would be a continuous noise. Jack it up and spin the wheel, if there is a bad bearing you will hear it. You might try a new set of pads for the squeaking.
If you don't make mistakes. your not doing anything.
69 SS/RS full custom Camaro 98 ISCA Grand Champion
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66 Elcamino 350/all dz parts,ac,windows,loaded,my driver
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26 T sedan street rod