I was going to do these calculations for you, but without the bearing hub sizes, the bearing itself, there is too much guessing. If you twist my arm, I will do it based on guesses.
Think about this though...
If the stock wheel bearings are robbing you of 4hp, that is equal to 2,983 watts. A hair dryer is normally around 700 watts. So it means those five bearings (3 rear 2 front) are soaking up more than four times the heat of a hair dryer. After a few minutes, the grease in those bearings will be cooking, because the heat capacity of grease is around 1.6kJ/kg K whereas the aluminum hub only has a specific heat capacity of around 0.9kJ/kg K. So that grease will absorb heat faster than the actual wheel hub.
It follows that those bearing will self destruct in a short time period and if you get off your bike, you would not be able to touch the center of the wheel without getting burned.
All respect to Moore Mafia, these guys are not educated trained automotive Engineers, they are tinkerers and be careful with what they tell you. The next thing will an uneducated person trying to prove this wrong, with a back wheel dyno test. That is pretty inaccurate. You can probably get more than 4hp, by just increasing the back tyre pressure to around 60psi. There is a reason why we as manufacturers test crank hp. Simply by increasing the strap tension holding the bike on the dyno, will actually change the numbers.