Front Wheel Bearing/Rim Question

[bigreddaddy]

I finally put my right rear axle back together, brakes, bearings, etc. on my '85 250es. I took it for a quick spin down the street and right when I was going into 3rd the front end starting shaking real bad.
I parked it and jacked the front up and rolled the wheel and noticed the tire moving up/down. After closer inspection of the wheel I noticed that one lug is missing and there are 2 cracks where another lug looked to be cranked down too tight or something.
Now I was going to change the front wheel bearings anyway and brakes. My main question is if this front end problem could just be that the bearings are shot, or could it be multiple problems (which I suspect) such as the wheel is bent, drum or axle damage?
I haven't taken it apart yet as I am looking to buy a front wheel since I will need one anyway because of the cracks.
Thanks for the help.

[bigreddaddy]

Forgot to mention. There is a "tick" sound when riding. I figured it would be the bearings.
I just really need to know if the up/down motion of the wheel/tire (viewed from hand rolling the front wheel while on the jack) could be caused by bad bearings alone or would this definitely be from a bent rim.

[Nick_R_23]

My Big Red's right rear wheel is bent slightly so it goes up and down a bit when riding. The whole machine goes up and down in the front end when its on really smooth road, it has a brand new tire in front but I never replaced the bearings up there so I think it would be the bearings, I would replace them anyway as they probably need to be.

-Nick

[bigreddaddy]

Oh yeah definitely. I already have new bearings, shoes, and cables for it. I just bought a wheel off ebay for the front so I'll start tearing into it soon.

[yamaha_tri_z]

Thats what i would do to. My Yamaha does that in the front and the bearings are shot .