"Inherited" Bike... Lots of questions My mate was massively into his bikes but badly broke his wrist several years ago.   He finally decided to sell on his bike.   Its a Serotta Ottrot S frame, Ultegra gearset, chris king hubs and stem.   The wheels are Mavic Reflex Sup.

While the bike is easy to ride, I have don't like the wheels.   Given that the bike is great for long rides (6hrs+), I'm not looking at aero wheelsets.   

My questions:
1.  If I swap the wheels, say within the £500 range, are the hubs going to be as good as Chris King's?
2.  Do I keep the hubs and put them in the new wheels?

Thanks.
A better approach to deciding is to figure out what wheel as a whole you could get for your money, by 


Buying factory pre-built (e.g. from Mavic or DT Swiss)
Buying custom built wheels with a choice of components from stores such as www.wheelbuilder.com, or using a local wheelbuilder
Custom built by local wheelbuilder using the Chris King hubs, you get to choose rim and spokes.


With the last option you are not paying for new hubs, but you will have to pay for the wheel to be built up.