I bought another front speed sensor (from AAP) because the GM Genuine didn't fix my issue. Recall that I reinstalled the little shim that the Timken had.
Yesterday I tested the GM Genuine with a DVOM, and no AC signal was being produced while spinning the wheel hub. I tested the AAP outside, and getting it close to the wheel studs, did produced some voltage.
So reinstalled the GM Genuine and removed the spacer and confirmed signal was being generated now. The faster I turned the wheel hub, the higher the voltage (still very small voltages albeit.)
But still same code. Doh!
I'll try my luck with the AAP sensor now I guess. If that doesn't fix the issue, I'll have order another replacement hub.