Hi Free-
I'm surprised no one has posted a reply to your issue, as this is a pretty common malady. However, I think most people consider shin splints to be centered only only the front of the shins, causing extreme tenderness and sometimes physical bumps.
While these are all partially true, there is more to the story. Sadly, for my sake at least, I've learned this the hard way over the last 4 months.
Shin splints can be found anywhere on the low leg, including the calfs and interiors.
Chances are, what you think is the bone pain is in all actuality the muscles and tendens running up the leg. What you have most likely developed (as I did, by not paying attention when it started, let alone resting) are micro-tears in the muscle tissue. Left to their, these tears will/can create stress fractures in the leg and major problems.
Our situations and thinking sound much the same. I hated the idea of bike and forget walking, unless your going to somehow get your heart rate up and then you might as well be running.
Disclaimer: This is just my situation. But I've doled out ton of money trying to get answers.
My course of action was the following:
First and foremost, got my feet assessed by the mgr of the local running store, and a coach of our running group. (Found my arches had fallen in last year)
Got XRays to see if any fractures had happened yet. (none thank god, that's all I need)
Got on a god awful stationary bike for a month.
Got into hardcore physical therapy.
Iced daily, stretched daily.
The bad news is it's still sort of there!
I've started running again, back to the C25K so I don't push my body too hard. The whole thing really stinks, and I feel with you. . .I was doing about 50 miles a week.
The important thing is to pay attention to what is going on with your legs. The last thing you want is fractures.
Good luck and keep me posted-
As Bill Clinton said "I feel your pain"