Probably too late to help, but having done the rear wheel bearings on my T5 (they are also GEN2 type bearings) I would say the tool is the ONLY way to do it. The problem is removing them from the hub, the tool has specific reaction plates for each vehicle. I have access to some big presses at work, but unless you can find a way to hold it a press wouldnt help.
I bought a chinese copy of a Sealey / Laser tool, and despite my concerns ( I had to swing off a 3ft breaker bar before the bearing let go!), it worked perfectly.