[utopia]

I balanced mine static, using some simple kit that fits to my paddock stand.
First I found the heavy point on the bare wheel and marked its position with a little dot of vinyl tape.
I couldn't find a definite indication of where the heavy point on the Michelin PR3 tyre was, so I left the cable ties on for a while and checked the balance like that.
Then, since the cable ties were still in place (and knowing where the heavy point on the bare wheel was), I could rotate the tyre on the rim and then recheck the balance, observing how the balance point shifted as a result.
Gradually I was able to establish the point where the tyre was least out of balance on the wheel.
I then removed the cable ties, fitted the tyre in this position and finish-balanced it.
Despite all this, I still needed 20g of balance weight on the rear wheel and 15g on the front.

I would say that, whether or not you can feel an imbalance, its well worth balancing all wheels (other than on trials bikes perhaps), particularly after having shelled out on carbon ones.
My last rear tyre (a PR2) needed 70 or 80g to balance it (though admittedly, this was not when it was new but was following a repair with a mushroom plug).
And that was using the same technique to minimise the amount of balance weight needed.