I've always liked HED wheels.... from what I've seen and read, they
aren't as good as Zipp in marketing, but their stuff stands up better,
and technically is at least a match. I'm especially impressed when
someone tries to talk me out of buying something.... in this case I need
to replace bearings in (what I believe) is a Hed hub on a custom built
wheel I got from Competitive Cyclist a long time ago. Essentially they
claim an advantage in durability, but not really in loaded drag.
http://www.hedcycling.com/wheels/ceramicbearings.php
We have spent significant time investigating hub rolling resistance.
(details of our test rig are below) With our test rig we compared steel
vs. ceramic bearings, and bearing bore variations. The biggest
measurable difference was in bearing bore accuracy. Bores that were not
concentric or that were undersized (in the hub shell) or oversized (on
the axle) made the most difference. The wrong size bore, even as small
as .001" undersized, deforms the bearing race and increases drag.
Likewise, non-concentric bores bind the bearings slightly and increase
bearing drag. These differences were evident in both an unloaded wheel
and one loaded with 100lbs.
There was a measurable drag difference between ceramic bearings and
steel bearings when we tested unloaded wheels, but the difference was
small enough that we could not measure it on a loaded wheel.
The upshot of our testing is this - We continue to focus on high quality
hubs with exact machining tolerances. Ceramic bearings do give a small
but measurable reduction in drag. They also offer greatly increased
durability and longevity. Based on this they are now an option on our
wheels.