I just picked up a pair of
Brazos Police/Emergency service boots for Christmas.
They're very nice, comfortable like a shoe, and wearable for many hours without any noticeable pain. They have the "jungle boots" but I think the tread pattern would be a bit hard to fight with when moving around on the pegs.
The boots are tied all the way up, but come with a zipper side for easy on/off and it works like a charm. They're waterproof up to 6" and I've ridden with them in 35 degree weather and there was no discernible wind incursion. I would recommend them to anybody who doesn't want to spend a lot.