Interesting topic, with I'm sure an infinite variety of opinions!
I think I've tried just about everything over the years. Like most I started with sandals and hiking boots. Boots were great until they got wet, then it feels like walking around with lead weights tied to your ankles.
Next iteration was all manner of wet socks and wet shoes. Some of them worked quite well, but like the NRS boot it was tough to get past the smell!
Then on one trip we ran into a canoe outfitting guide, and he wore plain rubber boots. We thought it was crazy, until we tried it.
Now for the last 10 years I trip with a pair of tall rubber boots with good merino wool socks, and a pair of moccasins for camp and dry days in the canoe. The boots are easy to take on and off, and the occasional soaker dries out quickly. For some the boots may not offer enough ankle support, but I've never had a problem yet. They are not comfortable for extended periods of kneeling in the canoe, but I generally only kneel for WW, then stretch out during the calm stretches so they work for me.
My current boots:
http://www.canadiantire.ca/en/pdp/brown ... p.html#srpCheers, Simon