Here's my 2 cents, over the last 6yrs, i've put in over 1500hrs IN waders per year. Got a lot of friends who swear by Simms, but they wear out and seep just as much as the next brand. Dunno how much "real" wading you folks do out here, but if you're just stomping the shorelines of the local lakes, go with waist highs. The BPS White River brand is actually pretty good. If you shop Sportsmans Warehouse, their Pro Guide waders are great for $189 !! Mine lasted 3 full years of hard wading before the first small leak. Bean's new waders are still being tested by the consumers so we'll see what happens there. I do however have an older model Bean Gore-Tex "Wicked tough" pair and love em!
If you are serious about a great pair of waders for cheap - look at Albright, Sportsmans Warehouse, GuideLine, WIlliam Joseph , the new Hodgemans. If you have money to burn and don't mind sending at least one pair back to the vendor, look into Simms and Cloudveil

MOst important thing to watch on waders - where the seams are! Seams on the inside of the leg will wear out faster than outside seams. Mostly seepage or pinhole leaks, but still a wet foot or leg!
Boots, one word - Korkers. Bar none, the most comfortable, lightest, and versitile boot out there. On my second pair in 5yrs and i beat the hell outta them! Personally, i prefer a more hiking boot style wading boot, as 99% of my fishing is in very rocky terrain with a ton of hiking mixed in. The Korkers have interchangable soles, you can pop in a hiker sole, and swap to felt or Aquastealth at the river in about a minute. If you get korkers, go 2 sizes bigger than street size, they have a tendancy to shrink a bit when wet. Rule of thumb for boots is AT LEAST 1 - 1.5x your street size. If you use 2mm neoprene booties go 1x, for 5mm go 2x big. Worst thing about tight boots is lack of circulation leading to very cold feet! ANd ALWAYS wear polypropelene liner socks with wool socks, breathes the best and your feet wont get damp from sweat.
Someone mentioned Pro Line, buyer beware! Their stitching is NOT the best, lots of exposed threads ( not recessed ) that will unravel quickly causing the boot to fall apart. Great boots for under $100 are Korkers CrossCurrent, Simms Guide, period.
And your environmental tidbit of the day - most companies are stopping the use of felt as sole material, and switching to Aquastealth, felt picks up too many AIS organisms. In fast, New Zealand has banned felt in the country, if you are caught using felt, big fine and a ticket outta the country!