A while ago I posed two questions to the group: 1. Can I swim in a surf wetsuit. 2. How to deal with bike cleats in transition.
The answers I went with were: 1. Yes. 2. Just leave the shoes on your bike.
Well, the triathlon was today. In brief, the wetsuit worked out fine because the swim was turned into a 400-yd ankle-deep run due to strong long shore currents. Leaving my shoes on the bike was probably kind of a wash in T1, but it worked great in T2. If you want to read my full race report, it's here: http://www.casualhacker.net/blog/2006/03/swim-run-bike-run/