Ok- so i took off my rear wheels to polish them and I go to take off the left rear wheel, and it spins around. Does this just mean it doesn't lock in park or is there something really wrong with the rear end or maybe anything else? Is it anything that affects that car in a bad way?

 

it means you have an open differential similiar to about 80% of all vehicles on the road today.

 

even in park sitting in the driveway, it would spin around like that? that just doesn't seem right, in park the rear wheels should not spin at all the car might roll away...

 

The "park" pawl in the tranny doesn't lock the wheels, it locks the output shaft, so the driveshaft cannot turn. Since you have an open rear, you will notice that although the rear tire may spin freely, the opposite wheel will spin in the opposite direction. That is what keeps the car from moving. How far can you go w/ your wheels turning in opposite directions? Your rear is perfectly normal.

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'97 Bonneville SSE