This will be my 3rd winter (approx. 3000km so far) with these here in Halifax. I've used them in -20degC (just a few times though) for a 30-35minute commute (once did a critical mass then commuted home in -15degC for 1.5hours) and they are fine. I use thicker socks, just as I would shoes to go out walking, etc. They are awesome for shedding slush and snow when the roads are covered. They have decent traction on ice for when I need a foot down. I run them with SPD's and have never had a problem that couldn't be solved by banged the pedal once. I recoat them with dubin every year and that keeps them waterproof and I think help seals the shoe against extremely cold winds.
You can't beat the price, highly recommend these. When they finally wear out I will be getting the same thing over again.