E39 540i wheel berring replacement

Wheel bearings make a rumbling noise, the frequency (tone) of which is directly related to only roadspeed. It gets worse when you turn in the direction opposite to the corner the bad bearing is on, and lessens (often actually goes away) when you turn toward the bad side.

I have never heard of a wheel bearing causing braking related noises. My guess is that the new pads are making noise when the first contact the worn rotors...

Wheel bearing? more difficult but probably unneeded. Brake rotors - pretty easy. It's a common job for the weekend hack mechanic to tackle. Don't forget to change the pads again so the new rotors don't get mucked up.