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It could still be the wheel bearings. When the car is lifted there's much less pressure acting on them, so the noise is no longer heard.
Also, just like irish said, check the dust shield. The dust shield on my father's Villager was making similar noises when it got bent.
I doubt it has anything to do with coilovers. Does it get worse on bumpy roads?
BTW, PM BlackbirdVQ. I don't think anyone here knows more about our suspension & drivetrain than he does.
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2000 SE 5-speed 
BC coilovers | BlehmCo LTB | Progress RSB | ES bushings | OTTO FSTB | Toyo Proxes 4 | GAB2
Hawk HPS | Brembo blanks | Cattman muffler | BlehmCo grounding | AutoVation pedals

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