I would say it is a draw. The belts look better and keep a cleaner motorcycle. I doubt they exibit any move friction because they seem stiffer than chains which do not run on metal teeth with grease to reduce the high friction. If the bearings are not underrated, I doubt they would wear out. After all they are carrying at least 200 lbs of manly muscle from above.

The real issue is to make sure your belt is tight and replace it as recommended. All of the HDs cannot be wrong.