In the next week or so I expect to order my 2010 S1 along with SRAM Rival or maybe Ultegra 6700. But what wheels....... LBS have suggested Fulcrum Racing 5 Evo Wheelset 700C Black Shimano. Is that the right choice? I'm 140lbs don't race at the moment but will do a few triathlons next year. Budget up to £500

All depends on what your going to use them for and what your budget is.

At 140 lb strength is not going to be an issue. I would say most decent wheelsets will handle your weight no problem.

May want to consider something aero if your considering doing some triathlons

With your budget, you could consider one of the Easton 90 wheelsets such as the EA90 Aero or EA 90 TT or possibly the EA 90 SLX. You can see the wheels at http://www.eastonbike.com/PRODUCTS/WHEELS/09/wheel_ea90_aero_'09.html

Both probikekit and wiggle have some Easton wheelsets for sale.

 

Not sure of the prices in the UK but I think a pair of Ksyrium SL (black) is always a reliable option.

 Good luck!

 

I agree with Don.  I have an S1 and ride with the Easton EA90sl's which should be within your budget and I think they're great, relatively light for the price range and very durable.  For the money they're great wheels.