Yeah, the speed sensor is an integral part of the hub/bearing assembly. I'm still convinced that the sensor came unplugged, in which case you simply need to take the wheel off, reach around to the back of the hub (behind the knuckle), take the connector off, and put the connector back on. Hey, if it doesn't work, you're only out about 5 minutes of time.
Unfortunately, if it turns out to be a bad speed sensor, and that light really bugs you, a new hub/bearing/sensor costs about $300 plus labor. If you find a good used one, I wrote up instructions for a DIY installation in the Techinfo section here on Bonnevilleclub.com.