In this past weekend, I repacked my front bearings, so I know your question inside out... The following is the procedure:
Take the tire out, take the dust cap out (some cars don't have dust cap); push the brake pads back a little so allow the rotor to be free rolling, pry out the locking pin on the spindle, while one hand to spin the rotor, use a large spanner to tighten the stopping nuts to max, then back down for 1/4 turn.  Put back the locking pin; put back the dust cap.  Put on the tire.  Done. 
This can be done within 5 minutes.
My car has 170k miles on it, the bearing are all good, I just repacked them with fresh grease.  The procedure is more than above, need to take out brake caliper, rotor, bearing seal, lada lada... 
Ha, let me tell you
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                    Forgot - no need realignment afterward
                     -internuts- 
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                        01/12/2009 postreply
                                                09:55:38
                    
                    
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                    回复:Ha, let me tell you
                     -qidq- 
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                        01/12/2009 postreply
                                                10:25:04
                    
                    
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                    The best?  Talk to a male friend, only a lunch $7
                     -internuts- 
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                        01/12/2009 postreply
                                                10:30:57
                    
                    
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                    what car is yours? from youtube, seems nothing can be done in 5
                     -lovecorn- 
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                        01/12/2009 postreply
                                                11:50:54
                    
                    
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                    Mine is an 86 MB 300SDL; no special tools were needed
                     -internuts- 
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                        01/12/2009 postreply
                                                12:12:35
                    
                    
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                    Here -
                     -internuts- 
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                        01/12/2009 postreply
                                                12:28:10
                    
                    
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                    回复:Mine is an 86 MB 300SDL; no special tools were needed
                     -qidq- 
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                        01/12/2009 postreply
                                                14:26:50
                    
                    
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                    You can drive it as-is no big issue
                     -internuts- 
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                        01/12/2009 postreply
                                                15:47:10