The clunking as you turn, as Golden Bullet said is likely the intermediate steering shaft. Lubing often takes care of it for a while. Or a new, redesigned one can be purchased. The procedure is in techinfo.
The oil pressure being pegged is likely a bad oil pressure sensor.
I agree that the wheel speed sensor is the most likely cause of the abs and traction control light. The dealer, or a well equipped shop should be able to pull a code for you.
I wouldn't be as quick to toss it aside because of these issues. There is nothing unusual in the list, and if you do the work yourself (none of it is very hard), it should be $300 to fix, with the hub being the most expensive.
Black 2000 SSEi, Silverstar Headlights, Angel Eyes fogs, 3rd brake light overlay, hi-flo cat, drilled 180 degree thermostat, Intense FWI, PCM, shift kit, and 3.4 Pulley. Solid front mount.