I’ve used Hermes tons (like, literally thousands of times, though mostly for low value items) including bike wheels, I like the local dropoffs. And the price! Most individual wheels will go under 2kg in a wheel box which keeps it nice and cheap.
Bear in mind the insurance limit is £300. Also bear in mind as per dyna-ti’s link, if you don’t pay for the insurance cover, and it gets lost, then you get what you paid for. (as with every courier). I skimp on insurance a lot, because with teh volume of items I send I can basically hedge it better myself by saving the insurance cost and offsetting that against the very occasional losses… But for £300? Riskier call.
I think with higher value items, the cost of insurance makes parcelforce via a 3rd party (parcel2go or parcelmonkey) better value most times.