I've heard that bespoke shoes are worth the extra cost. But in my case
the very highest prices are not practicable.  Is there such a thing as
as a resonably priced shoe maker based in the greater London area?

Tim Little?
http://www.timlittle.com/public_html/press_guard_nov02.htm

Since visiting the Gucci shoe factory in my early 20s, I've had a
secret passion to become a cobbler, so your question piqued my
interest. All the factory workers were in their 80s and there was
absolutely no interested young talent coming up.  Seeing those old
geezers at their work benches, hunched over shoe molds, hand stitching
every pair, well, I'd pay them anything they wanted if I could afford.
Visiting a cobbler's workshop you get a true respect and 'last'ing
appreciation for their craft.

"Bespoke footwear is unavoidably more expensive than most factory made
ones due to the time needed to make them (in excess of 40 man hours
per pair) and the usage of only the very best materials (which greatly
exceeds in cost, by itself, the price of many factory made footwear)."
http://www.amesbury.co.uk

I'm also of the persuasion -- if your feet are comfy, you feel chipper
all over -- and there's nothing more satisfying than a handmade pair
of shoes, but I imagine one comes to that conclusion by him/herself.

John Lobb
http://www.johnlobbltd.co.uk/main/main.htm

Trickers
http://www.trickers.com

James Taylor and Son
http://www.taylormadeshoes.co.uk/Bespoke/Benifits.htm

New and Lingwood
http://www.newandlingwood.com/information.phtml

Church's
http://www.churchsshoes.com/TEMPLATE/FrontEnd/info.cfm

Crockett & Jones
http://www.crockettandjones.co.uk

Conker Shoes
http://www.conkershoes.com/workshop_files/workshop.html

Bolton Bros
http://www.bolton-bros.co.uk/index.htm

Berluti's London store looks wicked scary expensive but umgawah! they
have some cool looking pedikins.
http://www.berluti.com/html-en/index_collections.html

A couple of Masters -- Ronaldo Spegalin and Stefano Bemer:
http://www.italydaily.it/Italian_life/Style/aprile/cobbler.shtml
http://www.countrylife.co.uk/lifecountry/people/bemer.php

Jan Klieman
http://www.kielman.pl/index_e.php

It's seldom one finds quality, hand-crafted goods and services
reasonably priced -- except here at Google Answers, of course! -- but
I hope you find your reasonably priced leather bliss, rodbard.

Respect the sole!
*V*, the spastic cobbler