I own 2 pairs of Egg Beaters. Here's my 2 cents . . .

The Good: They are light. They are easy to maintain. They are durable. They shed mud. Boy, do they shed mud. They are a great value.

The Bad: No adjustment. Rather the only adjustment is float, which is done by swapping cleats from left to right - it makes a difference. With one pedal I'm having trouble clipping in. It takes a lot of force, and there's no way to change it. I'm expecting that as the cleat wears clipping in will improve. We'll see.

Pair #1 is on my Giant NRS. They are a huge upgrade from the Ritchey Comps I was previously using. Here at home (Upstate NY) we have lots of mud, and the Egg Beaters are totally oblivious to it. Even after the yuckiest ride the pedals are clean and the cleats are clipping in just fine. No banging on the side of the pedal to clean the cleat out.

Pair #2 is on my Fuji Team road bike (I hear your snickering). They are lighter than all road-specific pedals, quad-sided means they're easier to clip in to, and I only need one pair of shoes. Okay, so I use my Shimano M220 MTB shoes on the road, but who cares.

I heartily recommend these pedals. I've not experienced hot spots. They live up to their mud-shedding reputation. At $99 mail order they are an unbelievable bargain. Their retention system is secure. They are lighter than anything out there.