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@Fixed&Broken
SKF 6001-2RS can be had for £3.88 a pair and work fine with the Formula / System X clones. They are smoother than the stock ones that come with the hubs and still are after 3 years use.
http://simplybearings.co.uk/shop/advanced_search_result.php?sort=2a&search_in_description=0&keywords=6001+2rs&x=0&y=0
As for BB's I'm still yet to find anything wrong with a UN-54. I ran one for over 10 years on a Stumpy and it was still smooth when I passed the frame on to a friend.