Here's the "hard data" as opposed to mere speculation and various opinions.
Okay, here's a fair comparison between two different "typical" type of systems. They both use the same battery (A 48V 10Ah ping), and the only thing changed is the motor. The one motor is an HXT 74-63(? Something like that) that has a kV of 200 and internal resistance of .03 ohms and the hub motor bike is a 407 on a 26" wheel. They're both limited to 20 amps and the power is the OUTPUT power - this is the power that gets you moving on the road, not just the power going in the motor and being partially wasted. The outrunner is on a scooter with 8 in. wheels but the results are mechanically equivalent on a bike if it had "equivalent gearing".
At 10 mph:
HXT outrunner motor: Power ~625 watts. Efficiency ~68%
C'lyte 407: Power ~ 475 watts. Efficiency ~52%
At 20 mph:
Outrunner motor: Power ~775 watts Efficiency ~ 83%
C'lyte 407: Power ~690 watts Efficiency 72%
At 30 mph:
Outrunner: Power ~785 watts Efficiency ~84%
C'lyte 407: Power ~425 watts Efficiency ~83%
As a quick observation, you'll notice the outrunner "plateaus" relatively quickly in power and efficiency (Like shortly after 15 mph) and stays nearly constant past that whereas the 407 motor is more "peaky" with a maximum power at 26 mph of 730 watts and it quickly plummets past that (coincidentally enough, my top speed on the crystalyte 407 was about 26-27 mph without pedaling), and its peak efficiency doesn't even come close until it gets past 24-25 mph. Also, since the outrunner had more power going out in the lower part of the speed range, it has significantly greater acceleration and hill-climbing speed. On an 8% incline, the simulator predicts 9 mph for the C'lyte 407 whereas the scooter has a speed of 16 mph.
So, yeah... with proper gearing, these outrunners easily beat hub motors with the same type of batteries. The secret is that it efficiency and power peaks and plateuas early which is the result of the motor having a much lower internal resistance than a typical hub motor. Just to let you know, the scooter would go about 27 mph in this situation on flat land and so would the crystalyte so not much way in terms of top speed, but that really has to do a lot to do with the sucky ping batteries. :lol: On a hill and during acceleration, though, outrunners ROCK! On higher power batteries, all you really have to do is increase the current-limit and you're going to go faster (upto a certain point, and then you'll need to increase the voltage) whereas you have to increase the voltage to make a hub motor go faster and that quickly approaches its limitations.
(An example, on 48V - 27 mph was all that I was going to see with the 407 no matter if the current limit was 20 or higher. On a mere 33 volts, I could increase my speed upto 35 mph by upping the amp limit to 50 amps! Right now, I'm currently getting 30 mph at a current limit of 40 amps just to conserve energy so I can get reasonable distance.)