Teva Terra-Fi's are the only way to go for me. I've hiked 90% of my hikes wearing Teva's since late 2003 but have been steadily moving closer to 99%. The last major hike I did with hiking shoes was the day after Thanksgiving in '07 with Stiller and I lost all ten toenails after that hike. The 3,000' elevation gain (and loss on the return trip) played a major part but the elastic laces of my Merrill Chameleons were to blame (I have since cut them out and replaced them with regular laces and still wear them ONCE in a while on FLAT/SHORT hikes only. They were a TERRIBLE idea).
Anyway, back to Teva's. I'm just starting on my 4th pair averaging almost 500 miles per pair. While I've gotten fewer miles with each successive pair due I believe to trying to get the cost down for more mainstream sales, they still are the best for me. I didn't like the change of tread design to the "smooth, round bumps" of my last two pair, but now that the latest Terra-Fi's have gone back to the deeper tread with a sharper edges I'm ready to buy another pair even before I wear the current ones out.
But then I really can't complain because the ones I'm wearing are performing admirably. A 19.5 mile backpack at Aravaipa last month, two 10-12 mile hikes out to Bull Pass/Black Top Mesa area
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(I HATE the steep trek up & down Bull Pass no matter what I'm wearing) and yesterday's 21.5 mile :wlift: out-and-back trek (in just under 11 hrs) from First Water out Dutchman/Bull Pass/Dutchman/Peter's Trail up to Peter's Mesa with no traction issues and even better yet, absolutely no complaints from my feet during the hike or even now the morning after.
To the people who "need" the ankle support for "weak" ankles, I say "baloney!" I had weak ankles for years, even having to have special shoes for year when I was in my teens, but by wearing Teva's so much on rough as well as steep terrain, I've actually built up my ankle strength to the point I don't even worry about twisting an ankle on the trail. You can't strengthen muscles if you don't stress them, so if you keep wearing shoes that actually support your ankles (which I still think that is debatable) you won't be gaining ankle strength.
To those who worry about hitting their toes on rocks or picking up cholla balls and other such niceties I say the same thing, baloney! I purposely buy a full size larger so I have a nice buffer zone for my toes up front and have NEVER hit my toes on a rock, although the front of my Teva's are sure chewed up from the hitting the rocks. And then for the spikes... I don't know if my mind unconsciously pays more attention to where I place my feet or what, but with hiking shoes I've had spikes through the shoes (upper area) MANY times yet only 4 times I recall with my Teva's, and three of those times were from cholla balls whipped up by the hiker ahead of me and landing on the top of my foot. But because they weren't "hammered in" they were no big deal.
Wow, I didn't realize I turned this into a long testimonial (rant?) in favor of Teva's. But while the Terra-Fi's may not be cheap (don't buy the lesser expensive Teva's!), in town or out on the trails, wet or dry, they are hands-down the all-around footwear of choice for me. Oh yes, I love the compliments on the "Teva tan lines" I get as a consequence of wearing them so much.
Last note... I've NEVER gotten blisters or lost toenails from hikes wearing Teva's, no matter how steep the downhills.