Aveo 2005 loud noise when let off gas pedal (with video)

[MetroMPG]

Did this problem appear suddenly or has it gotten gradually worse?

If gradual, I'm tempted to say this sounds like front wheel bearing(s). When I listen with headphones on, I think the sound is still there while accelerating, it's just quieter. It's a low frequency sound, and appears to be related to road speed, not tied to engine RPM. Also, deceleration puts more load on the front bearings, which would increase the noise.

If you shift into Neutral while decelerating, what happens to the sound? If it's a bearing, the pitch will not change drastially (will remain tied to road speed), but maybe it'll be a little quieter.

If a bearing is worse on one side, steering the car left-right-left-right (like a ski slalom) will change the loudness of the noise as the bearing is loaded & unloaded.

Also, the fact that it's not really audible below 40 km/h (25 mph) is consistent with a bad wheel bearing.