Absolutely do this ONLY with the pads out and calipers off. (actually, the calipers don't matter if the pads are out, just no reason to be on there).
How do you define a little? Well, it's more than none but less than a lot. 
Loosen them until you have just a TINY bit of wiggle on them. Spin the rotor. That's a good approximation of what it feels like with "0" preload. Anything you have MORE than that IS preload.
If you want to get scientific about it, loosen them like I said above, take an old belt (the kind you wear, not the alternator kind), wrap it around the hub, hook a fish scale on the end and pull on it. It will read some number of pounds. As you tighten it up, you can keep checking that and when you get a couple of pounds more than 0 preload, stop. Again, this isn't usually necessary, but it is how we set the preload on some industrial transmissions.
Ideally, there would be a sleeve and positive stop on the nut and washer. Tighten it down to the stop, measure your freeplay, then shim it to some spec for preload, usually just a couple of thousandths tight. You COULD figure this out if you wanted if you knew the pitch of the thread I suppose.
WRT the grease, with rare exceptions, any good moly-disulfide grease will work just fine. What are the exceptions? Mostly the operating conditions. If you're packing bearings in a boat trailer, for instance, you want something with a LOT more fiber material in them to hold it in the bearings and a lot more tolerance to water. If you're running a strictly 1/4 mile car, don't pack them at all but put a few ounces of 90wt gear lube in them (DO NOT TRY THIS ON THE STREET!!!)
I personally prefer Massey Ferguson EPMSO2 grease, but that's just me.
Some of the easiest wheel bearings to adjust are on equipment with a grease zerk in the hub and, in fact, I've even drilled some to put one in. Then you can put the bearings in dry, adjust them appropriately, and grease them when you're finished. I wouldn't do that on a Fiero front hub though because it's just not necessary.
John Stricker
| quote | Originally posted by 3800dude: what do you consider little drag? Can you turn the wheel by hand with no effort or do you need to push or pull with force? Do you do this adjustment without the brake shoes installed? If the brake shoes are installed do you feel more drag? Do you go so tight that the wheel stops moving and then back off? |
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