I bought a pair of these shoes at the local walmart for 22 bucks.
http://www.walmart.com/catalog/produ...ct_id=11030177
They work really well with toe clips, are comfortable walking, and they have a stiff enough sole for use on long rides.
And they look a little like vintage bike shoes. I am really happy with them, especially for the price. If you are looking for an inexpensive pair of shoes for use with toe clips, check these out at your local wally world.
And, no, I don't work for walmart.