Phil bearings are fine...Great seals...Full of Phil's grease...
The best part of the whole ordering experience from Phil's was that they don't **** you for shipping and handling charges like most companies who ship bike parts...I was a little scared giving them my credit card # since they hadn't specified how much they were going to charge me for shipping but I was pleasantly surprised when I got my statement and they'd only charged me $26CDN for four bearings including shipping...
Formula bearings seem to be kinda hit or miss...Your hubs could have bearings that'll last you for years and years or you could get some that last for months and months...A lot depends on how much you ride, how much you weigh, whether or not you're a big pressure washer user for bike cleaning etc...I wouldn't change them unless you have to though...