The good side of the hub...notice how the bearing (red seal) looks. Essentially, it's intact.
The "exploded side", the seal has come off.
Close up. Where have the ball bearings gone?!?!?!? This is a sealed bearing, exploded and rusted (there's rust on the one ball). I guess that's what continuous commuting, including two winters in a row, will do to a bike. Before each winter, I slap a generous amount of grease on top of the bearings to keep salt, sand and water out, but I guess it wasn't enough. Looks like I'll be commuting on my cross bike until I get this sorted out.