I use both neo and breathables, but if I had to choose 1 it would have to be breathables!

I got a pair of cabela's for $99 and have been happy. Plus they back up their stuff pretty well.

I don't have studs in my boots yet, but plan to in my next pair. Slipping on the bank when it's muddy is just too common - and a broken rod, leg, or hole in my waders is just an accident waiting to happen.

One reason I like breathables that has not been mentioned yet, is that they tend to fit more loosely, and I can slip them over my work clothes in the morning (for my pre-work fishing fix. Some folks just need coffee...) and not have to worry so much about wrinkles or even sweat like I would with neos.