MmmÂ…nope, don't believe so. I've been driving early A-bodies with 7#&188;" rear axles for twenty years, and this is the first mention I've seen of any such a thing. The inner and outer rear axle bearings are lubed by the rear axle oil, not packed with grease.
I'm also not seeing anything in your post that has me convinced your noise is caused by a wheel bearing.
Relatively speaking, sure, compared to larger rear axle assemblies, but the 7#&188;" is plenty adequate for many stock or quasi-stock slant-6 and mild V8 applications.
Rear axle interchangeability on A-bodies is a great deal wider than '66-'72.
Quickly get hold of the three books described in
this thread before proceeding with any other spending or any repairs.