riding a geared roadbike, i definitely KNOW im using more efficient energy (putting less stress on myself to do the same amount of work)...
But, when I ride my fixed track bike of similar weight, i feel as/if not less tired than riding a geared roadbike.
Both are the same weight roughly so it would seem that the roadbike would tire me less. But, I ride my fixedgear smarter when it comes to pacing myself, keeping my spin up, attacking hills earlier and cleaner than on a geared bike. This more alert riding style is definitely what equalizes my laziness on a geared roadbike.
obviously, all things equal (and that is hard to do), the geared bike should be more efficient for daily use.