Quoted From David Zitterich:
Gm service bulletin 02-05-25-006B
Cause: The cause of this condition may be a increased air gap beteen the wheel speed sensor and the hub reluctor ring due to rust and debris build up on the sensor mounting surface.
+1! See this so much up here in the great white north with our salty roads, rust builds up between the sensor and hub and increases the air gap between the reluctor wheel in the hub and the wheel speed sensor. There was actually a recall for Canadian vehicles for this issue. Remove the sensors, clean the rust and apply rust inibitor to the hub surface and reinstall sensors. Only problem is that some of the sensors break off inside the hub when you try and remove them, then they have to be replaced.