I bought a pair of these:

http://www.mec.ca/Products/product_d...=1066607998298

for my commute and rain weather rides and they are very good. They are not snug as say something that is meant to block the wind and should fit over any sneaker for your average foot size. They are tall enough so you can tuck them underneath your rain pants and they have a reflective strip vertically down the back of the overboot. They have a velcro closure and of course, open on the bottom for your cleats. The price at MEC is also canadian so it should be cheaper than $55, however MEC is a co-op so you either need to join (something like $5) or find a friend with a membership...

I haven't seen Serratus stuff sold in the US but maybe that has changed..

Jay