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Has anyone ever heard of these before? If so..to what quality level do they compare.
 

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Chili hed & old bike fixr
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I think

that the parralax hubs were a design style of Shimano's MTB hubs with the larger center section, and the designation went across the whole line fair>xt grade. They work well and last great with a little proper maint. There should be a number on the hub fh-xxx which is the # that you need to get proper cones if they go bad. Each grade level had different cones, and rear cones were side specific. Lube and adjust properly, great life, too tight, cones fail fast. Factory settings were too tight.
 

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I bought a replacement wheel for my around town bike last year that has a Shimano Parallax sticker on the hub. Says Malaysia on the sticker which I assume is the country of origin. I've had no problems with it and the freehub is very quiet while coasting. I would guess that they are inexpensive because, as I recall, the whole back wheel was about $80 CAD.
 
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