Product review (5 stars): Saved me a bundle
I could've taken the lazy way out and just dumped the old dryer (2001) for a new one.  Sometimes appliance repair can be daunting when you don't know what you are doing.  I'm glad I didn't.  I did a little bit of internet research, probably Googled 'dryer doesnt turn under load' and 'dryer squeaks' and found a great site with videos explaining the insides of the dryer and what may cause this issue.  For the cost of this part and 90 minutes, my problem was solved.  The Bearing Kit, which is more or less the big metal plate in the image with a ball on the end is attached to the drum. The plastic hanger, which attaches to the back of the dryer's rear combine to allow the dryer drum to rotate as the belt drives it.  On my old dryer, the bearing was so worn down that it looked more like a cylinder vs a ball - like someone took a lathe to it.  The plastic hanger was so worn down that the part that holds the bearing was completely worn away - no plastic.  This is about 3/8" of plastic,just gone.

Part came in 2 days thanks to Prime, and armed iwth the videos I took the top, front and drum out of the unit - detaching the belt.  3 screws later the old bearing plate was off and with a mini-power screw driver I was able to power through the three new screws, self-tapping the new new bearing onto the drum.

Plastic plate was two screws and the little ball was held in place with a dab of the lube.  Lube everything up, put the unit back together, and the dryer was back to its regular form.  I also did the felt kit since the unit was open.

The only pain I had with reassembly was the dryer vent which is probably the least well engineered part on this unit - it always detaches.  but that has nothing to do with this part of the repair.

Last comment, I have a Kenmore dryer - Frididaire sourced - but the itnernet led me to this part and it was correct. There are many options so make sure you get the right one.