My waders serve dual purposes, like yours. I usually get a new pair every three years (the last pair lasted 4 years), and I go the cheap route and get the $50 ones at WalMart. This last pair is a set of Hodgemans I got last year. Walmart has Remington waders for about $49.00. I think these are 3mm. I go with the ones without boots, as the leaks always seem to spring where the boot and wader come together. You also have options for traction depending upon where you have to hike.

I stood in knee deep water for 6 hours last Sunday, duck hunting, and while my toes got a bit chilly a time or two, they warmed right up one I walked around a bit.

Spend the extra money on those fancy waders if you want, but I won't be crying if I rip my cheapies on a fence, or poke a stick through the leg.

Just my opinion.