HI @PaulL – I mostly agree with you and have carefully read Phinney and Volek’s book on performance including their studies with cyclists. However, the point I’d like to stress after having bonked twice after I thought I was fat-adapted is that fat adaptation takes longer than just getting past “keto-flu”. You can definitely bonk after being in ketosis for 3 months straight as I did.
In my case, I believe the process took 6 months. Half way through, I was able to complete 4 hour bike rides in a fasted state, so I assumed I was adapted. But when I pushed it in hills, headwinds, or heat, I still bonked. Today, my cardio fitness is the same, but I no longer bonk in these situations. So my advice to people who are relatively new to Keto and pushing distance or intensity is to have backup carbs. Like a spare tube, you may not need it, but it’s great to have if you do.