Currently using Shimano SPD pedals with Specialized Comp MTB shoes that I bought in November. No problems riding all day. I was experiencing some hot foot issues with my previous Pearl Izumi shoes which normally work great for a few hours MTBing. Merino wool socks also seem to help with hot foot issues.

My current SPD pedals are pretty old and worn out, but work fine with new cleats. Seriously thinking of getting new Crank Bros. Candy 3 pedals. Keep hearing good things about 'em. They also look gorgeous in red, but not that anyone will be looking at the pedals while riding. But I like to admire my bikes when I'm not on them. Just hope these don't disappoint in other ways: clicking in/out, comfort, etc.