I got a pair of the discontinued color/size on sale. These would have been worth the money even if they weren't on sale. I have a wider foot and these are very comfortable. Shimano build quality never disappoints. These have holes for both two-bolt and three-bolt cleats. I use them on SPD pedals. Note that the profile using SPD is pretty high - the holes are not recessed because of the shoes also have three-bolt compatibility. Got a pair of SPD cleat covers to address this issue when walking. Very glad I bought these.
I am moving from 2 decades of SIDI shoes, which have always worked out for me, however my foot has widened a bit with age and I was starting to develop some numbness I had not previously experienced. On recommendation I have shifted to the Lake shoe. It is definitely more roomy and so far good, but with my typical very thin sock they have more volume that I am used to. I am still working through that. Soles are rigid, material quality is high and the BOA has not been finicky and adjust well.
Overall, I'd say this product is middling.
Offers good warmth and waterproofing, as well as a decent ease of entry/exit and interior volume to wear a thick winter sock if you wish. I've worn these comfortably down to the low teens on a blustery day, which is good for someone like me with post-frostbite feet that run cold, despite being a human furnace otherwise. Weight is decent for riding with and factoring the two-layer setup of these. I like the removable inner for faster drying.
Where these fall short though, is they could be better in how securely you can fasten them after putting them on. The single Boa only does an OK job of securing the lower portion over foot, but the strap on top doesn't do a great job of securing the upper, even yanking on it hard only provides moderate anchoring, so the upper still feels floppy - maybe a second Boa dial would be better.
Additionally, the sole on these leaves much to be desired. The lugs are too small, shallow and too close together for good purchase when doing an off-bike scramble, making them slip and slide even in shallow snow. They also cake way too easily and don't clear fast.
The soles do a decent job of grabbing the pins of a flat pedal, though the design requires frequent reseating to have a comfortable foot/leg orientation, esp. for power transfer of the forefoot on pedals. They do OK on wet rocks and roots grip-wise. Didn't try them in the SPD configuration, but I imagine they'd do OK there.
Personally, I wouldn't recommend them and plan to sell them on eBay shortly.
First of all, I bought these on sale. I might not have jumped at the regular price, but now I probably would. These are a real step up from what I owned before. They are not the super rugged boots that folks have for riding fat tires in the snow, but I have found them able to keep my feed warm into the mid thirties. The fit is excellent, and the quality of construction is what we should expect from SIdi. I'm really glad I bought these.