About a year ago, when I was visiting San Francisco, I picked up some sort of vintage looking leather double straps with buckles as a "souvenir" from a bike shop in the city. I already had Toshi's on my bike at home but planned on setting up another bike and figured it wouldn't hurt to try these "Plemmons". A couple months later I finally got the new bike set up which included pedals with the Plemmons' straps. I've now been riding them for more than six months, brakeless, with lots of skidding and not too much crappy weather and the straps don't feel like they've stretched at all and still look great. I had my doubts since the straps are not laminated but they apparently use some quality leather.
Yep, "set and forget". However, if you change the adjustment of the straps, say for a different pair of shoes, it's easy to remember where you had the previous adjustment. You just have to count holes.