Well for one thing I did'nt have enough well controlled trials to make any conclusions. At most I figured out there at least is not any significant loss and that higher inertia does markedly effect the riding qualities of the bike. Aside from numbers and data I found by perception the bike to be easier to ride straight and to apply power to the pedals because of the larger amount of angular momentum.
As far as studies go I have never actually seen an in depth qualitative study of the effect of wheel intertia on cycling performance, its kind of crazy actually. And I don't mean one that is done by a hand full of grams either. To be through you would have to test a wide range of interias with a wheels of the same geometry with same tire. The equipment would have to be highly specialized to do this. My research was fairly limited because the only means I had of keeping wheel geometry, tires and tubes constant and dramatically change the wheel inertia was using water, which adds in the variable of whether the Crr changed. Ideally you would want to test a range of some standard wheel, 1.5X inertia, 2x inertia, 3x inertia, 4xinertia, and mabye 8x and 16x for kicks. I mean a really good spread to get some extremum points for the data. Done on a range of course types, wind conditions, and rider types. Wheels have already got about as light as then can get so testing heavier is the way to go.
Most of the analysis of wheel inertia on cycling performance has been done only be using a two dimensional model of F=MA leaving out the extra dimensions of real world cycling; lateral motions on the road, slip angles, and rotating about the contact points and the concept of angular momentum. Also most cycling mathmatical models only take into account the energy required to over come drag and leave out discussion the stored energy of the bike rider system. Just imagine riding with Zero stored energy and you'll understand how important the stored energy of your system is, altough most of it comes from your body.
Also the benifit of riding heavy are very much oriented towards course, conditions and rider type. Big strong rider, flat and windy course, ride heavy. Criterium, ride light. Peleton riding do to the need of lateral movements, light. Time trial, heavier. I do realize heavy and light are very vauge but I'm only have a couple months of research under my belt of riding wheels of varying inertias and don't know of anyone else personally who's conucted any research so its really hard to pin point anything. To me any modern racing equipment is in the same range of inertia, go double or triple and your getting into the heavy range. I have one wheel sitting in my garage that weighs 12 pounds which I've dubbed the air hammer, just wish I was healthy enough to ride it.
Hopefully I answered some of your questions.
I'm a one man team so I've been hoping some others out there might at least try running some trials of air vrs water. Because you certainly would need many different rider types, terrain types, and wind conditions to get a good analysis.
As far as the water having some unkown effect like say on rolling resistance, that is the question I was hoping to have answered. I originally posted this information on Slowtwitch and someone told me water would have a Higher Crr than air but I have never seen a study to back this up. As far as pressure the air was run at 100 psi and the water was run at 90psi because thats as high as I could get it with the pump. The air was first otherwise I would have run both at 90 psi. If I ever recover from this injury and am able to ride again I plan on testing vegatable oil.
Also I know the common saying aero trumps weight, but imagine if you were on the moon at 1/6th the gravity and no atmoshpere or mabye mars what type of wheels would you ride then? what type of wheels would Goliath ride, how about a 6 year old girl? or the predator? or for an all down hill course no curves? all down hill course curvy? all up hill 2% grade? all up hill 10% grade?
Howards therom, For every rider course and conditions there will be an Ideal moment of inertia and geometry of construction for each wheel that will allow the rider to perform at an optimal level.
One last thing, I actually saw a NASCAR study that showed wheels of higher interia having a slightly better fuel economy but the drivers preferred lighter becuase they had better acceleration and allowed for quicker lateral movements.