It sounds to me like what Johnny Apollo and other's have had including me (bad speed sensors)...
I just posted earlier today my transmission and t/c odessey. If I were you, I would check the wiring leading to these sensors first they get really close to the exhaust pipes.
I had a major transmission failure but I also had the symptom of what the manual calls "tight corner braking". This felt like a binding to me too... I lived with this for abount 6 months. I also had a "check TOD" light. Without out a code reader (special one from Isuzu) you are SOL. A dealer will read the code for around $85. I never got to the dealer to diagnose, I just swapped out a transmission and transfer case and the problem went away.
The front and rear sensor's are on the "Transfer case". These sensors are approx. $235 a piece, from Isuzu. In my travels on the net looking for a transmission, I found lots of transfer cases for the Trooper 2 99-2001 and VX 99-2001(these are interchangable and mirror image of themselves). I found one for $125.00 + $25 shipping and it had both sensors! They (transfer cases) ranged in price from $75-$350. That trims the cost from $470 to $150, plus you get a transfer case core in return to use for parts or exchange if you ever trash your present transfer case
The rear sensor is pretty easy to replace the one at the front is on top of the TC in a tight area. I did a straight r&r on trans and tc which entailed dropping the rear crossmembers and front and rear propellar shafts. Access to these places would be easy then. Try car-parts.com and follow the prompts and see whats out there. Dealers charge a lot to replace these, but its really easy especially if you have little hands.
Good lucK
John