there is plenty of info on here giving pros and cons of lead and ceramic, my personal preference is lead due to availability, weight (meaning more efficiency I believe) and complete non sparking. Other swear by ceramic though.
I agree that there are advantages of both. Lead is good in smaller mills, however in larger mills I think ceramic wins as it is lighter.
Weight is not the be all and end all of efficiency. Impact force is proportional to the deceleration distance along with the mass. So don't forget lead will yield whereas ceramic will not, this effect becomes especially important when the particle size is small.
But I also agree with Maxman in being very careful on the choice of ceramic media (Steve's is good stuff). I have used ceramic for years with no problems, however my mill is run in the middle of a farmers field in a hole. So if I do blow up a mill no-one would be hurt, it would not even register as the local shotgun users will be louder.
Edited by digger, 01 February 2010 - 05:39 PM.
Phew that was close.