I'm surprised
I'm confused by the Velocity response.On several points.
1> Does drilling more holes in a rim make it able to withstand more tension? Where I'm going with this is it seems to me that a 32hole Dyad would be properly built with a total of X tension. A 48 spoke Dyad would be properly built with the same total X tension. OR,is the 48 hole extrusion heavier? I bet they use the same extrusion for all drillings.
My experience building wheels indicates that in a high spoke count wheel,lighter spokes are a must.
2> I've seen lots of under tensioned wheels brought in by customers.Not one has bulged the rim.They do break spokes tho,due to the load cycling effects.Usually on the non drive side in the rear. The common fix is to use a lighter spoke that remains tensioned through the load cucles.
3>Not related,but I am starting to use spoke nipple washers on non eyeletted rims. It makes sense to me to spread the load,but things that make sense don't always work out that way. Time will tell.