all these comments about no bearings being stupid, but remember that the main reason you have bearings in normal pedals is to prevent metal on metal (either steel or alloy) contact and friction. If you made a brass pedal it wouldn't have to have bearings, as it would act as it's own bearing. If the plastic is as hard as it'd need to be to make a decent pedal, and the pedal axle is sufficiently smooth, then no extra bearings will be required. Note also that no bearings doesn't mean no lube, because the pedal/axle junction is a bearing, and needs lube to work properly. So what they really mean is no separate/additional bearings. but i don't necessarily see the benefit, sure there is less moving parts, but last time i checked the only real failure point for most pedals is snapped axles, not bearing failure. my 2c.
Oh, and there's no way i'd pay $250, that'd buy me a lot of replacement bearings and pins for a set of v8's.