The main reason for asking is I'm planning on buying a new bike and test road a Giant Defy (which I'd almost decided on) last weekend and it felt far to cramped & upright. Not only could I see the hub but a good chunk of the break pads as well. The 100mm stem and 35mm of spacers probably didn't help!
But I can also see the hub on my Boardman which I think is considered a pretty racey position, even with 130mm stem.
To be honest I'm really struggling to come to a resonable decision and local shops aren't much help!
Edit: That was on the reccomended size for my height. I'd apparently need to be 2" taller for the next size up.