This problem was quite sudden no warning. Well I called chevy and they said there is no recall on this (gee what a surprise). So I will head to the dealer to have them have a look and hopefully it is a simple fix (and inexpensive). I will post the results here.

Update from Aug 30, 2010: Well I had a squeak start along with a dragging or sticking and the abs went back to normal. So I tried engaging the parking (emergency) brake and putting it in gear and giving it a little gas to see if it would hold. It did for a minute and then a pop then brakes still held some. I released them and tried again, it seemed okay. The drag went away still have a little squeak in the morning for a minute then it's fine. So I suggest to try using your parking (emergency) brake some and see if it holds while you give it a LITTLE gas this may help solve the issue of lack of parking (emergency) brake use.

I bought this truck new and took it back to the dealer the day I picked it up to complain of the ABS engaging too easy as well as too often. To this day, the dealers swear nothing is wrong. Since when do front brakes outlast rears 2:1 ? The ABS activates on clean dry pavement almost daily. I have also had problems where I am convinced the front brakes are not working at all (replaced front brakes for the first time at 105,000 miles!!!) and I think these problems are inter-related. I feel the rears are locking up because the fronts are not working, which is telling the computer we are going into a slide and must engage the ABS so the fronts can do some work. Other than this, it has been an outstanding vehicle, I am just concerned because the brake system is more than a creature feature, however the benefit is I am never late for any appointments anymore since I can't friggin' STOP!