I have a pair of low end Shimano Road shoes that use recessed SPD cleats. They don't walk anywhere near as well as my MTB shoes or even the SPD sandals that I have. The MTB shoes I have are not the all-out cleat tread, more like a pair casual/athletic walking shoes.

The difference is the stiffness of the road sole and the way the the MTB sole has a bit of flex and "rolls" up at the toe.