At work we purchased a new large Colechester lathe, which is made in China. The superbly ground bedways on that are extremely hard.
I remember a couple of years ago speaking to a chap at the Harrogate Show. He had bought a version of the Warco 280/290 lathe from a different supplier. He liked the lathe but was very dissapointment with how easily the supposedly hardened bedways were becoming scratched and scored. I assume he wasn't using it for sanding and grinding.
While some of the low cost lathes may go through the motions of hardening, it can sometimes just result in a bed that is a bit harder than one that hasn't, if at all, rather than a glass hard surface.
It also depends on the grade of iron used. I remember some years ago that Myfords adverts for the long bed Super 7 lathe stated that it was not available with a hardened bed. Thinking this was because of some highly technical reason with the Induction Hardening process itself, I asked John Moore of Myfords about it during one of their open days. He replied that it was simply because he had 60 raw long bed castings in stock that were cast from an iron that could not be hardened.
Regarding the removable Raglan bed guideways mentioned by Neil, I removed them from a Raglan 5 I once had and took them to Myfords for regrinding. They were rock hard, and a superb job they did of regrinding them, and the underside of the saddle.
The Warco 1330 lathe that I bought new about 10 years ago has a somewhat hardened bed. But after just several hours use I noticed a scuffing pattern appearing on the front vee way.
Removing the saddle to look underneath at the mating bearing surface revealed the most appalling scaped surface I had ever seen. Checking with Engineers Blue revealed just three pin points of contact with the bed surface, which easily broke through the oil film. A shame as the bed itself had an excellent finely ground finish. After several hours spent correcting things the bed remains otherwise unmarked to this day.