On the other hand.
I found new bearings for $5.00 each and was able to rebuild mine for a lot less that way. Regardless of the relative ease at $10.00 per spindle for a rebuild vs $70.00 for a new spindle. Labor time was a bit longer to press in new bearings but that was easier than the time and effort to steady the pulley on the top of the spindle while I removed the bolt holding the pulley. Guess it depends on how valuable your time is.
BUT - From your description... when the unit bearings are that worn, the chance of the housing and shaft being damaged is pretty high. In my case I had one spindle out of 3 that had deformation on one end of the housing including some wear on the bearing seat - no choice there but still $20.00 to rebuild two vs $140.00 that's a big leap. Even if I only get 4 years instead of 8 out of a set of bearings. Seating the bearings isn't going to be that tough, find an auto shop with a bearing press unit.