No need to torch the car, easy job with ordinary tools, part available cheap on e-bay. Chris and Al will not approve because of disturbance of camber setting, but that's not the end of the world. Toe-in is easy to reset. Part is common on e-bay
http://www.ebay.co.uk/itm/OMEGA-O-S-5-STUD-HUB-BEARING-CARRIER-ABS-SENSOR-94-03-/110609254217?pt=UK_CarsParts_Vehicles_CarParts_SM&hash=item19c0d34749
Terry, your right, I don't approve. Several reasons, chief among which, he just said in his post that the car has just been set up. So it will need setting up( AGAIN! ) if the stub axel is removed. (Arguably it would be better to fit the used bearing alone)
Secondly the op has stated he has basic hand tools. Clearly he is not going to get involved in diy geometric set up ( I'm the first to admire those that will have a go at this but it's by no means easy, and impossible to Guarantee its correct, without checking on Set up rig anyway)
Thirdly, while the advice given might work for you, and fair play

you must recognise that isn't going to be possible for everyone here.
Fourth, assuming long term ownership, a used bearing has an unknown history. Unkind miles, and could easily need doing again in short order.
For the op, the job itself is very easy, with the exception of the torque needed to tighten the nut. 320nm's. Some leverage is required to loosen it as well.
As for the part, after some long threads on the subject, after market parts, such as QH and conti(direct) simply do not last. Poor quality with more play than the original after 6months tops. Don't waste your money.
All German do the original factory part for £50 with the cap (not supplied with pattern/aftermarket) or, if that's too expensive fit used. Far better than pattern shite.
The only reason the part in the link is supplied with the stub axle is because the breaker can't be arsed to remove it from the bearing, due to the aforementioned 320nm torque.
Re fitting, easy if you have a 320nm torque wrench. If not Halfords 300nm wrench will dothe job. Or as Enwtood says, drive it round the local garage. Click click. Jobbed.
The only time I'd suggest Terry's method is if the wishbones need changing as well. Then it's much easier that way

, but then you may not want a used bearing.