Update: Car buddy neighbor had loaned his slide hammer set out some time ago and hasn't seen it since. <img src="/forum/images/smilies/968/huh.png" class="smilie" alt="" /> I ordered a 5 pound slide hammer set online ($45.90 w/free shipping)

, and once it arrived, it made quick work of extracting the wheel hub from the rear wheel bearing. A couple of 'taps' and the wheel hub came out cleanly from the bearing.
I assembled all the pieces that make up the 'home made' bearing puller/installer that a couple of people had documented online

, and set about assembling the contraption to remove the left rear wheel bearing. The plumbing pieces have the correct diameters to allow safe removal of the bearing, while not damaging the aluminum trailing arm assembly in the process. The most important aspect of using this 'home made' tool, is to get all the parts lined up as evenly and as centered as possible. If any of the pieces are skewed or off center, the potential for doing serious damage to expensive components rises exponentially. I suppose investing in a better tool, such as the one offered by Arnnworx, would certainly eliminate much of the klugginess of this home made 'tool'.
Once I had everything 'lined up', I placed a deep well socket on a breaker bar on the backside nuts, and I began tightening the outer nut with a box-end wrench. As I continued to apply pressure with each turn of the nut, you could hear an audible 'pop', as the bearing was being extracted from its bore in the trailing arm. I continued cautiously turning the nut, and within about five minutes, the bearing was free of the trailing arm. I backed off the nuts, and dis-assembled the pieces to reveal the bearing and the smooth bore it once resided in. I was impressed with the relative ease that this contraption made in extracting the wheel bearing from the trailing arm. Again, make sure all the pieces of the 'tool' are lined up as centered as possible before you begin the serious tightening.
One thing I noted at the end of the bearing extraction, the soft steel 'all-thread' rod that I used suffered significant 'rounding' of its threads during the tightening process. I went to my local Home Depot, and picked up a short piece of stainless steel 'all-thread' rod for the remaining use of this 'tool'. I expect the soft steel nuts to now have their threads deform when I set about installing the new wheel bearing in the next day or two. Stay tuned...