I dunno. We use high grade steel bearings for alignment purposes in the lab. We can typically get sub-micron accuracy too which means (does a quick bit of math) that the bearings are at most 2-3 microns out of round. The races in a hub are not machined and polished anywhere close to that tolerance.
Campy used to spend a fortune on accurate bearing races which is why the hubs were so expensive, yet sought after. Smooooth. What you really want is a perfect, super-hard bearing race and a grade of bearings that closely matches. I'd pick softer bearings than the race material, too, since bearings can be easily replaced and races typically can't.
Anyways. Enough thread hi-jacking... Personally, I think 105 hubs are fine.
John Swanson
www.bikephysics.com
alfeng said:The bearings in the Ultegra & Dura Ace hubs are slightly better (higher grade) & the races are polished ... that means that they can, in theory, be adjusted to run with slightly less resistance.
Similarly, CERAMIC bearings (in case you were interested) are supposedly even MORE ROUND than the highest grade steel bearings ...