Shortly after buying my MR2, I would hear a rubbing noise at low speeds, often when braking. Sometimes you could hear it just rolling the car through a parking lot.

I thought it was the caliper sticking. Serviced the caliper slides (New OEM Toyota boots and grease) and the noise was still there.

Once I had the brakes back together, I noticed significant play in the hubs on both sides, laterally as well as vertically. So I replaced the wheel bearings (and the driver-side hub) and the noise is now fixed.

Hub part number: Mevotech H518507 - Supposedly for a front wheel drive Corolla, but worked fine. Ordered from Rockauto.com for $29.79 + $9.70 shipping.

Current Needs:

Install Steering rack bushing
Fix TPS
Make Battery tie down
Fix High Idle
New battery
New Tires