I use the Endura Road Overshoe from Chain reaction, as yet I had no problems with them they do keep the ole feet warm and dry . For 20+ pounds it's not a bad price...
Hope that helps...
Endura Road Overshoe Spec
Smooth Neoprene® construction and welded centre seam give super smooth styling and waterproofing.
Rear zip with snap-down puller and Velcro® heel tab to ensure snug fit.
Neoprene meets and butts behind the zip to improve water-tightness.
Hard wearing Kevlar® faced base and Kevlar® stitching.
I use Giordana Nordic AV booties, and they work well for me. Before those I had used a neoprene set from Performance bike. They were clunky, but they worked okay. You could also look booties from Pearl Izumi, Capo, Castelli, and etc. Note that booties from big name manufacturers can be more expensive. I'm sure others will chime in on this.
It all depends on what kind of weather you are dealing with. Once the temps dropped below 20 degrees, I stopped playing around with booties and went straight to wearing boots.
Perhaps Santa will see what a good boy I have been this year and get me a pair of winter biking shoes.
Or I may find a pair of boot liners and use them with my cycling sandals.
I also find neoprene booties plenty waterproof, but lacking in insulating qualities. Below around 35° my toes are ice cubes.
As far as booties go, I look for durability and easy on-off. Rubber soles hold up well for me with limited walking. After owning side zipper, rear zipper, elastic and velcro strap models of closure, I've found the velcro flap type to be the easiest to get into and out. My current shoe covers have two flaps per bootie, one over the instep and another around the ankle.
Maydog's boot suggestion (cycling specific or sport boot) and/or battery heated electric socks are probably the ultimate solutions for frozen feet.
Good boots and heavy socks are the way to go IMHO. I like my Salomon Ortholite boots with an elastic lacing system, and mountaineering socks, extra heavy wool.
