Here's what I use on a couple of my road bikes:

http://www.pricepoint.com/detail/128...oad-Pedals.htm

I've had excellent results with them. Value-wise, you can't beat them. The quality is good and they even have kind of a "road pedal" shape. The cleats they use are Wellgo 98A, which are fully interchangeable with Shimano SH-51 cleats, btw. They use bushings, but if you dissassemble occasionally and stuff them full of grease, I can tell you they will last for years, in fact I've yet to wear a pair out. The only downside is if you want two-sided entry, these are one-sided-