Bike Shoes, Pedals (price vs performance)
I've been riding clipless for ten years or so and right now I've got Look pedals and Adidas shoes. Both of which were purchased through catalogs on clearance for less than $100 total. You can definitely get quality pedals and shoes from the catalogs. The main difference in the more expensive pedals is typically weight. The more expensive pedals tend to be carbon and titanium vs. the steel and aluminum cheaper models.
Shoes are a very personal choice so no specific recommendation, though over the years I've ridden with Nike, Shimano and Adidas and haven't had any problems. As for pedals, I have to recommend the Looks. They are reliable and have a nice, big platform. I've had issues with smaller pedals such as SPD's with comfort and fatigue for long rides. I've found the Looks more comfortable and the power transfer is more efficient.
Thanks Jamie. What model look pedal do you have? Also what type of shoe? I am hoping to try some different shoes and if possible, pedals too to see what seems to work best for me. Another question I have (you probably can't answer this one Jamie), is if it is better to get a women's shoe (assuming of course that one is female). I would think it would be, but again I will rely on the wisdom of my fellow forumites.
I ride on Look Keo pedals and Specialized Trivent shoes. I love the setup. The shoes are super comfortable and very well ventilated. They are a bit wide in the front though. They are easy to get in and out of and work really well with the Look pedals. Also, Peter Reid designed these for the Hawaii IM and they have a really cool silver bottom that's supposed to deflect heat of the pavement during riding. Being from South Florida, I like that feature but it might not matter for you so much being from the Detroit area. The Look pedals were in the $200 range and the shoes are about $150. I didn't get the carbon pedals because I am 215 pounds and it wasn't really recommended but it might be a good fit for you.
______________________________________
Clydesdales have more fun!!!
What model look pedal do you have? Also what type of shoe? I am hoping to try some different shoes and if possible, pedals too to see what seems to work best for me.
I'm not sure what model pedals they are. They were just the cheapest ones I could find at the time. The shoes are Adidas Vueltano's. And I think trying them and finding what works best is probably the best idea. Just one thought, if you have a good LBS, and they take the time to find a setup that works for you, please don't go to a catalog and buy it there. (The former shop employee always has to throw that in!) But ask the shop if they can cut you a break on the pedal/shoe combo. Most good shops can take care of you like that.
Jamie
I agree Jamie about getting lots of help from the LBS and then buying elsewhere. I always buy running shoes from the running shoe store if they have helped me out. On the other hand if I am familiar with the shoe and can get a better deal online, I'll buy there.

I am planning to upgrade (from my old circa mid 80's shoe with cleat for toeclips) to a new road shoe and clipless pedals. The entry level shimano shoe (MA 80) and spd pedal (A515) at my LBS goes for about 75 and 60 respectively (total 135). This stuff may also be cheaper online. However, looking at my performance and colorado cycling catalogs it is clear that one can spend a whole lot more money on shoes and pedals. So my question is on a scale of 1 to 10 what how does the entry level set up compare to say shoes with millenium sole (SIDI womens Genius $206.99, or SIDI tri shoe $179.99) vs a carbon sole (DMT flash 329.99, Carnac MS carbon 329.99). And how about pedals that cost more such as Shimano PD 7800 224.99, Campy record 229.99 Speedplay x G2 174.99). Having said that, I can't afford to spend more than $200-300 total and preferably toward the lower end. I'd like to get the best set up I can buy for the money. Any comments-suggestions would be greatly appreciated. Thanks in advance for your wisdom.