Wheel bearing replacement

[WestCoastSVX]

Okay please forgive my ignorance, but I just have a couple quick questions and figured several of you have experience/opinions on this subject.

I am well aware of the wheel bearing issue including having the replacement done right the first time. (the different grease, etc) Monday I went in to get my oil change and free check up at my local independent Suby shop. He told me I need a new right rear wheel bearing, and I have noticed the noise coming from back there. He quoted me $275 parts and labor and he brought up the issues before I even had a chance to quiz him on it. So I know it would be done right. This is an independent shop (all 3 techs that work there are ex-dealer with all the certifications and years of experience though) so I am assuming it should be cheaper than if I went to the dealer. How does this figure compare? I have read lots on this subject here before but don't recall ever seeing actual prices. How much is just the part itself, labor time, etc. Any help would be appreciated!

One more thing, it will probably be a couple weeks before I have the money for this. Fortunately, I can usually bicycle to work. But would there be any harm in driving the car with the bad bearing? Have I done any harm by driving on it this long?

Thanks!