John,
Apparently I'm part Polar Bear, because I can wet wade in pretty cold temps and rarely hike long distances with waders on. So unless there is snow on the ground, I'm wet wading. Im using the Simms Arapaima pants that I got on Clearance. I've fallen into the water with them and they repel water pretty * well. If you get fully immersed, they'll be dry by the time you get back to your car. When wet wading, I use a pair of 5.10s, which IMO, are the best wet wading boot known to man. The soles stick to rocks like nothing I've seen before. Perhaps that is why Search and Rescue use these when making swift water rescues.
For all the crap I've bought after being addicted to the sport, I don't think I've made a better investment than those boots. People have come up to me and asked me about them when they see me hike upstream through rocks and snot and moss like a running back without missing a beat. The toes are reinforced, so the days of kicking rocks and messing up your toes are long gone. Add a pair of Simm's wading socks with gravel guards and I can kick a grizzly in the face and run away, but not really.
But when I do have to wear waders, I have Patagonia's Rio Gallegos and:
1. They feel more breathable than Simms. I remember doing the FOTK hikes in my Simms and getting back to the truck with my lower body completely moist. I've done the same hike with the Patagonias and my lower half doesn't feel like I've walked out of a sauna in Phoenix in August. Same exact hike, same time of year, same temperature, but different results.
2. The Rio Gallegos are convertible, which means that during long hikes, I can use them like pants. With a flip of a switch, they become waist high.
I got them also on Clearance on Sierra Trading Post, and applying the 30% off coupon on Fridays, I might as well have stolen them.
(Plus they have knee pads...I truly never appreciated them until your crawling on your hands and knees trying to get a riser to go on the Lamar)
But, above is my experience. For what it's worth, Patagonia now makes the Middle Fork packable waders.
As far as boots, I'm running with the Simm's Vaportreads which honestly, feel more like hiking boots than wading boots. Believe me, I've hiked 11 miles in them without any problems. They don't feel bogged down like ordinary wading boots, which feel like you're hiking in cement blocks. I've added the aluminum bites for better traction, and is definitely a step up from the POS Korkers I used to use, where the sole would fall out before I left the parking lot.
I know, Patagonia waders, Simms wading boots.