If you have flat feet, they may not be for you. Not sure, really, as I don't have the problem. I've most of my life been a barefoot child, so they're simply awsum for me. I do find them ok for running, but I'm not a "runner" so my running is sprints while playing outdoors more than running, but I know people who do without a problem.
I love them, but I do admit that they may not offer enough support for someone who needs support. It's enough for me that they wrap nicely to hold the arch up and whatnot, but that may not be enough for everyone.
I pretty much in the warmer months wear them constantly. My normal sneakers are relegated to winter-wear now. At the moment I'm about 30 pounds over ideal weight, with no issues.
They do allow you to naturally run better than with artificial shoes.
Would I think them a waste? I guess it depends on if you're ok with something you may not use as often as other sneakers, maybe only lifting and going for walks, maybe only for short time periods. *shrug* If you start with them just inside and don't use them outside, their return policy would let you try them for a bit and see if they work for you. So you could try the treadmill at the gym and around the house or whatnot.
I also find them the best thing to wear on the elliptical, for some reason. Usually sneakers are irritating with the elevated heel and whatnot.
The frees rub me funny too, because my feet want to be wider when barefoot than the frees allow.
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