Originally Posted by Shiznaz

Well if you add the cost of fancy-pants shoes into your 'couple hundred' for clips and straps you'll only end up with 50 bucks to spend!

Conventional knowlege would say:
MKS Royal Nuevo pedals $107.50/pair
MKS "Fit-a" double straps $79.50/pair
MKS steel toe clips $12.50/pair

That brings you in at $199.50USD

However, you'd probably be just as happy with what I have:
MKS Sylvan Track pedals $24.50/pair
ALE laminated toe straps $13.00/pair
SOMA double gate toe straps $12.50/pair

Caveat: its easy to lose dustcaps on the sylvans, the soma clips are really deep, and it was hard to thread the ALE straps through the sylvans. This could be a problem with any pedal system though.

Total $40.00USD. Then you can buy drugs or play polo or whatever it is that goes on in Bermuda. I guess golf? I know! Spend the extra $160.00USD on some fancy shoes!