I wore out a Frog pedal after about 12,000 miles, including 3,000 touring miles where I didn't bother/get around to lubing it. The other bike's pedals have over 30,000 miles, with regular lube and occasional re-building. So on a cost per mile, I'd say they're competitive.

I love the float, and it took me about 3 miles to get used to it. Some people hate it. Unless you can find someone near your size (bike and foot), you pretty much have to buy to try.