I'm going to parade my ignorance of bike manufacturing and maintenance: is it possible to replace the races fixed into a quality hub? I've never seen such things available for sale, or read any posts where someone has had that done. Likewise, I've never heard of anyone remachining races.
So, when your races have become pitted, do you just throw away that nice alloy, buy a new hub and rebuild the wheel? Having replaced many wheel bearing races in old foreign cars, this just seems like a waste.