I've built three 2x72 grinders now. I've used wheels and pulleys from multiple vendors as well as a number that I made myself. The best value I've found right now in rubber contact wheels is first, this ebay seller
kspirit9. He buys chinese contact wheels and then trues them up himself on a lathe in all axis, balances them, and places a spacer between the bearings so that they cannot be overtightened, which is a fantastic idea. It makes a solid stack of metal from the shoulder of your axle bolt through the first bearing race, to the second bearing race, allowing you to tighten it as much as you feel required rather than to a "feel" for how the wheel runs freely. Crank it down, it runs freely. I've bought 3 wheels from him, they are all true and balanced as well as anything else I've bought. Second for contact wheels is Ameribrade, which I assume does something similar bringing in Chinese wheels and remachining them. One thing to note is that all of these remachined wheels are really 1.938" wide or so, because they came in at a wobbly 2" wide and needed to be trued up. It doesn't bother me at all.
For idler, drive, and tracking pulleys, I think Oregon Blade Maker's "Lightning" wheels are a fantastic value. They run true, the bearings are replaceable, they're low mass so they have such a low angular momentum. They take little energy to start and little to stop. They are also fantastic to work with and bent over backwards to expedite ship me something so I didn't lose an entire weekend + vacation days I'd taken solely to get some knife work done.
I've made heavy steel wheels, that was me being cheap. They're all sitting in a scrap bin somewhere now and have been replaced with the above.
I even got quotes from 2 different companies that do the rubber surfacing of contact wheels for putting rubber on various wheels that I would machine and send to them, and just to get the rubber on them was equal or more expensive than buying from the above.
As for false economy, the first time bearings fail, replace them with higher quality ones if you feel the need. The bearings are really the only wear point anyway.
I'm all for buying domestic/quality but I can't justify $300 for a supposedly American made wheel of supposedly higher quality when I can get one that has been remachined and balanced by an American for half the price, made of the same materials, and in some cases with more/better features (like the bearing spacer).
My hogging grinder has a 5" drive pulley from OBM, a 4" tracking wheel from Ameribrade, a flat platen with 3" contact wheel pulleys from kspirit9/ebay, and I also have a 6" wheel from kspirit9 and a 12" wheel from Ameribrade. My first contact wheel was the 10" from Grizzly that I had to machine bearing pockets for and then true it and balance it myself like these guys are doing with the wheels they sell.