Kenmore Model 970-C80042-00, purchased in 2001. The dryer squeaks when some heavier items are placed in the dryer (cotton sweats for example), but when heavier items are removed, the squeaking stops. With a couple of the heavier cotton items included, the load would still be considered a small-medium sized load. We completed a DIY and purchased the proper drum bearing kit for the model, but the dryer is still squeaking. When we increased the height on the adjustable front legs of the dryer it tilted the dryer back slightly, and the squeaking stopped... for about 5 minutes. Suggestions on what might be causing this problem?. and would it be easy enough to fix ourselves?

For the age of the dryer, now 10 years old, I'm not sure if we can expect further repairs shortly after this one and am therefore wondering if we would be better off just investing in a new dryer now?

You need to tear it down and clean it and use white lithium grease on support rollers. Clean all parts and remove and clean all air ducts. You will have to clean the drier out thoroughly or it is all for nothing. Every air duct will have to be removed and scraped and washed out to remove baked on lint deposits which is like a concrete lining. This will burn so the manufacturer has installed the safeties to keep from having a house fire. Driers were the number one cause of fires at one time. Look at: http://www.youtube.com/watch?v=MMP7BW1lLs4 to see how. Also: http://www.youtube.com/watch?v=iBiRw-KElC4 ; http://www.youtube.com/watch?v=yFTZGgVisCI
Note that on most of the videos it does not show them washing out the parts, but this is important because it's the only way to really get the parts clean, just don't get motor wet or the capacitor if it has one. Vacuum out the motor. I would move the drier out to your garage to have plenty of space to work. You also want to check your vent and clean it, also. The job is really easier than it sounds. There is no shortcut that will work; it has to be cleaned well. Before you re-assemble it make sure to use white lithium grease (high-temp grease) and grease all bearings. Just vacuuming out the dryer a little does little good. I would get a new belt and install it,too. DrTom4444