It seems like lately I have been hearing a lot about ceramic ball bearings, and I have even heard of folks who always put them on every Daiwa baitcaster they get. What are the advantages/disadvantages to putting these on a baitcaster? How about on a TD Zillion 50th hyperspeed reel? Which type/brand is the best? How would one go about putting these on?

Any help would be appreciated, thanks

Overated in  my opinion. The newer reels of today are set up to do a job most anyone would need to do.

Imo, as soon as you use any cast control/brake/magnets/etc. you nullify anything extra you might have gained from the new bearings

The only way you can actually gain from the use of any high grade bearings is if you have zero cast control set and no brakes and no magnetic cast control on.  And then, you can't use your thumb to break either or you'll do the same thing.

If you are only interested in making the reel feel super smooth than the nicer bearings might help.

It seems like lately I have been hearing a lot about ceramic ball bearings, and I have even heard of folks who always put them on every Daiwa baitcaster they get. What are the advantages/disadvantages to putting these on a baitcaster? How about on a TD Zillion 50th hyperspeed reel? Which type/brand is the best? How would one go about putting these on?

Any help would be appreciated, thanks

from my knowledge its not worth upgrading to unless you do heavy salt water fishing or like to sit in a tsunami

they have been using ceramic ball bearings in skateboards for a while... they are extremely expensive but the only purpose for them was for corrosion as ceramics don't rust in extreme conditions

I've had a different experience with upgraded spool bearings.  I've found noticeably increased performance in casting/pitching - especially lighter baits - when I've changed out the generally overlubed stock bearings on both Daiwa and Shimano products.  Side by side comparisons with identical rods, reels, lines, and baits one with upgraded spool bearings, properly lubricated, one without have demonstrated a clear performance difference on multiple occasions.  

I've had a different experience with upgraded spool bearings. I've found noticeably increased performance in casting/pitching - especially lighter baits - when I've changed out the generally overlubed stock bearings on both Daiwa and Shimano products. Side by side comparisons with identical rods, reels, lines, and baits one with upgraded spool bearings, properly lubricated, one without have demonstrated a clear performance difference on multiple occasions.

Same here I have upgraded several reels with better bearings Zpi, Boca's and the bearings from Big Green Fish, and in all instances they were a noticeable improvement over stock bearings. Is it for everyone probably not, but it is a fairly low cost improvement for more distance and less work. Also the ceramic's have a whirring noise that some people may not like, it has never bothered me but have fished with guys who said it drove them crazy.

In theory, flechero would be correct.  On the water, its more what bronzefly states.  Boca Orange Seal are the best, though the ABEC 5 Ceramics from Smooth Drags are very good, and much more economical.  One thing to note, you almost always sacrifice smooth feel for speed.  For casting performance, you only need to upgraded the spool bearings.  FWIW, I think a Carbontex drag washer upgrade is a way better initial upgrade than bearings, and much less expensive.

I have ceramic bearings in two reels, a Revo S, and a Citica 200D. The difference in the Revo is marginal, but the Citica was a very noticeable improvement.  

with upgraded spool bearings, properly lubricated

doesn't sound like you had a real apples to apples comparison.  If you had cleaned out and properly lubed the stock bearings for the side by side comparison, I would guess that your experience would have been much less noticeable.

But if there was a circumstance you should feel a difference it's pitching since the brakes are usually off or close to it.

with upgraded spool bearings, properly lubricated

doesn't sound like you had a real apples to apples comparison. If you had cleaned out and properly lubed the stock bearings for the side by side comparison, I would guess that your experience would have been much less noticeable.

But if there was a circumstance you should feel a difference it's pitching since the brakes are usually off or close to it.

Well, perhaps it didn't sound like it, but before I started upgrading my stock bearings to aftermarket models, I did properly clean and lubricate the stock bearings.  And yes, I did notice a clear difference in BOTH pitching AND casting...