Used my VS 200 no more than 15 times since service and the main bearing is shot... again. (water intrusion?) My understanding is the bearing used is Steel. Anyone use a ceramic bearing?

I upgraded mine. I used a powell bones Swiss ceramic bearing for a skateboard shop. It's sealed.

The problem with the factory one is it's an open bearing. So if you get water in the reel it destroys the bearing.

Plus a good ceramic or steel sealed bearing is way less than what vs charges for there's
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Man... I knew it! I used powell swiss since way back as a kid skateboarding

So the fit the VS? Very good to know!

Be careful here.

A "sealed" bearing has a dust cover on it, not a water seal.
There are two types of ceramic bearings.
Most use ceramic balls and steel races......they rust right along with steel ones. They cost about 2x a high end steel bearing and they fail about as fast. I have used them in calcuttas and can't tell the difference.
Then there are full ceramic bearings, balls and races, which won't rust (I think their main use is very high rpm tools like dental drills where lubrication and heat are issues). They are very expensive (about 10-20X) the cost of lesser bearings. A set of small ones to fit a newell ran about $180 several years ago (I thought about it but chickened out). I would expect larger ones to cost quite a bit more, but am unsure if they even exist in a size to fit a VS.

Boca Bearings is a good source for this stuff.
Bearings come in different grades with 3, 5, and 7 the most common (7 is the best). In fishing applications I can't tell the difference, they all seem fine.

http://www.bocabearings.com/

I looked into it as well to change a 704 to a 5 bearing reel with anti reverse. Just want worth it. I can't do it with my VS as it is A US model.
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Here is what I do and it will help keep the bearing lubricated and should last you the season. You will need to make up the pinion removal tool to do this (check YouTube).
Break down the reel and do a full cleaning, remove the pinion lock ring and pinion assembly, then pinion gear, seal and bearing.
Take your new bearing and remove one shield, you will find very little grease in it. Put a drop of Royal 70/90 Syn. oil and then pack the bearing with grease.
Install the bearing on the pinion shaft with the exposed side facing the pinion, and install assembly with new main seal and O-ring.
Grease the reel as instructed and then add about 1 tablespoon of Royal Purple and close it up.
After a day of fishing turn the reel spool facing down and give it a few turn and the lube will get into the main bearing.