I have a used Herse. I've riden it a bit, so I feel somewhat qualified to respond.
My response is that, no, the Herse isn't the ultimate ride. The reason being is that there are so many kinds of rides to do.
Herse is really good in the elite sport tour, light camping cyclotouring categories. In the racing bike categories (Herse sportif model) there are many comparable alternatives to Herse. Better/Best is in the eye of the beholder.
Herse is great because he innovated with new materials and that he integrated those materials into a complete, elegant and beautiful system. His products helped people feel confident using aluminum (brakes, cranks, stems, hub, lights) on bicycles. His products helped people feel confident about using triple front gears. His products helped cyclists fee superior by using sealed bearings. The industry is moving away from aluminum and into carbon fiber and I'm sure I'm not alone in being sad to angry about the change.
The one thing I have yet to see used by other makers is his "eclariage san fil" (internal electrical connection between the frame and the fork). Herse is the only maker I know that offered that system. I wouldn't be surprised if others did it too its just that surviving examples of non herse examples are very scarce. They are so few as to be considered prototypes. If you have an Herse with lights in front and back you have eclaraige san fil.
I think materials choices and overall quality by today's framemakers are better now than then. Because of the specialization today there is still a problem with the overall system integration. Todays Breezer Bikes and the Novararra Fusion (REI) are a start in the right direction.
Todd Teachout
Hercules, CA