Pontiac Repair: 06 Grand Prix GT, Traction Control Alarm, worn brakes, cv joints

Question
Car: 2006 Grand Prix GT 3800 Series III w/SC. I've done a little research and think I know the problem, just want to bounce off someone who really knows. This problem is intermittent. I've been able to "make it fail". Took car for drive. Seems to run fine, shift fine. Driving 70 on freeway through hilly area. When I let off the gas to coast, on down hill and/or downhill corner, the "Reduced Engine Power" alarm sounds with check engine light. As soon as I apply the brakes, the "Service Traction Control" alarm sounds off. Stopped vehicle on side of road. Cycled starting about 5 times. Alarm cleared. From what I've been able to find out is that there are speed sensors at the front wheels and that the traction control uses this info with the braking system for TC control. My assumption is that with worn CV joints and/or worn brakes, I could get these symptoms. Please let me know if I'm on point here and if my best bet is to work the axle replacement and see what happens.
Thanks,
Mark Barnett  

Answer
you could have a worn out hub and bearing and or just a bad abs sensor in a hub causing it, however they are not serviceable, you must replace the hub and bearing with sensor as a unit, a scan check of the ABS system will tell you which hub is setting the DTC, you could also have a faulty wiring harness