Yes, those are new bearings and new seals and the spring loaded bearing buddies I have on these hubs can unload all of the grease in about a 20 mile drive.

My big concern is that if the grease can come out, the water can surely get back in.

The problem is that over the years, the spot where the bearing seal runs has worn down. You can feel a groove in this part of the axle with your finger.

But how do you repair this? Replace the axle shaft??

Well I stumbled on a cheaper solution. Bearing Buddies, the same people that make the pressurized grease cups also makes a seal retrofitting product that corrects leaking seals., its call 'Spindle Seals'
http://www.bearingbuddy.com/spindle_seal.html

And they're CHEEP, $12 for a kit to do both sides of the axle. I bought them online right from the company; http://www.bearingbuddy.com/orderss.htm

How they work is the kit includes a stainless steel ring that is larger than and thus fits over the old seal land. This ring along with a new seal that is designed to fit the ring replace the old inside bearing seal.

Thats really about all there is to it.. Actually there is an O ring that goes between the ring and the inside bearing to seal things at that point as well. Only three small parts per hub, stainless ring, O ring and new seal.

I wanted to see what this all looked like, without the hub in the way so I slipped the Stainless ring, O ring and inner bearing on to the axle shaft. Makes sense, now with the new seal in the hub it will run on that nice shiny smooth ring and not the old ratty seal land.

Remember, put the bearing back in the hub BEFORE you put the seal in place. I guess I was 50 - 50 on that account.

Just remove your old seal, use a long punch to tap it out from the top side if you you don't have a 'seal puller' (I don't have one)

Make SURE you put the bearing back in the hub when it falls out, and before you drive the seal in place.

Mr Great Uncle was a heavy proponent of using Permatex on the outside of axle seals to seal them again water there as well. So I applied Permatex Form A Gasket #2, the non hardening kind, to the outside edge of the seal before I installed it.

What I wanted to point out with the picture is that these seals are wider or thicker than my old ones, and when they are driven into the hub, they stick up slightly compared to the old seals.

That turns out to NOT be a problem, because the ring is wide enough to support them.

The only real trick to the install was properly tightening the spindle nut. Sounds easy enough, we have all done it 100's of times. But you need to know that its the pressure of the inside bearing against the O ring and the stainless ring that keep them from turning on the shaft.

When I assembled the 1st hub, I tightened the nut like I always have in the past. Tighten the nut hand tight and back it off to the 1st spot I can get the cotter pin into the hole.

Well in that mode the stainless ring of the spindle seal was not locked down and it would rotate on the shaft. So, for proper operation the nut needs to be hand tightened, then ADVANCED to the next possible spot where you can insert the cotter pin.

I worried about that much tension on the bearings, but in fact what you are doing is compressing the O ring and flexing the Stainless seal ring so they seal tight against the axle.

Put the Bearing Buddies and the wheel back on and head for the lake..