Bob G.wrote a review of Speedplay V.2 Road Cleats on January 25, 2017
I switched from SPD's 10 years ago. I have the X5's and love them.
I love the float and how secure they feel. They're very easy to get out of when you need to. FYI- twice I was involved in accidents and the pedals let go without injury related to release, one time I bent the retention spring and had to replace the cleat (fine with me).
In 8 years I had to replace the bearings, impressive considering I maybe lubed them twice in that time.
The manufacturer says to replace the cleats every 5K miles. I have not been able to get 5k miles because the cleats wear out. They don't wear out from riding, but from walking. I purchased the pads that allow walking and carry them with me religiously in case of flat or equipment failure. I don't use them when I walk from my garage to get on my bike. After 200 or so rides this is enough to wear them out. use the pads as much as possible or you won't even get that far and you'll need a Dremel tool to get them off because the screw heads wear down.
I love my Speedplays. Oh yeah, crazy clearance too. I've never hit my shoe while pedaling through a corner (jinx).
I do wish the retention plates were more durable.
To be fair, Speedplay does offer a cleat that is walkable, had I known I would not have invested in the less expensive X5's