I've only done Muncie out of those 3, but I'm going back to Muncie again this year. The swim is in a fairly protected reservoir, so the most you are likely to get is some chop, but no real waves or current to deal with. It's usually 50/50 on whether it will be wetsuit legal or not. (It was last year.) The bike has one fairly short stretch of bad road and most of the hazards are marked well with spray paint. The out and back portion on the highway was great. The road surface was good and it was closed to traffic. The run is hilly with rollers the whole way. It can get very hot in Muncie in July (one year the race was drastically shortened due to 100+ degree weather.)