Where can I buy real walking shoes that are comfortable and have good
arch support but nevertheless look good?

Mephisto is one of the most widely acclaimed brands of walking shoes.
They don't come cheap, but overall quality rarely does. "Looking good"
is often in the eye of the beholder, but Mephisto produces a wide
variety of styles, and it shouldn't be difficult to find one you like.
A good summary of Mephisto's mens' styles can be found at:

http://www.happyfeet.com/mephisto/mephisto-mens-shoes.html

Many online shoe stores, including HappyFeet, offer a full refund if
you are unsatisfied with your purchase. If you would rather try on a
pair in a store, you can email info@mephistousa.com with your
location, and they'll let you know which stores near you carry the
brand. Keep in mind that stores which carry one high-end brand are
likely to carry others as well. The results of your query here should
give you a great start at finding local stores that stock what you're
looking for. (The Dr. Martens Store Finder at
http://www.docmartens.com/StoreLocator.asp might give you a jump-start
on local stores if you're not willing to wait for Mephisto to get back
to you.)

Ecco is another high-end brand that is often recommended to those
looking for a comfortable walking shoe. Their appearance is a little
more rugged and not as conservative as Mephisto's, but one might catch
your eye. See:

http://shop.zappos.com/n/b?d=536312500&zv=6

Rockport is a more common, inexpensive brand that nevertheless has a
decent following. Their styles are summed up well at:

http://www.walking-shoes.com/mwalk.html


An interesting article about the science of walking shoes can be found
at:

http://walking.about.com/library/gg/aabybshoes.htm

It's geared more toward sport walking, and the shoes it recommends are
less expensive and have a far more athletic look, but the detailed
information about what makes a good walking shoe is still relevant.

I hope this information helps in your search!

There can only be one solution - Rockport Des Sport. People have run
the New York Marathon in them and they look great.

If you want inexpensive, believe it or not, Payless has a pair of
shoes they call "Mocassins", but I wear them as dress shoes.  About
$30, they're black, very soft leather, and with Dr Scholl's inside of
them, they're more comfortable than any dress shoes I've ever gotten. 
Plus they last me about 4 months!  I walk about 2 miles a day, to and
from work, and inbetween, and getting 4 months out of a pair of shoes
is amazing to me.

[dress shoes typically last me 1 1/2 months, and sneakers about 2 to 2
1/2 months]

I have inexpensive tastes, though :)

You can make most shoes comfortable if you have the right inserts. 
The trick with dress shoes (if you insist on dress shoes and not a
mocassin-that-looks-like-dress-shoes), is to make sure they're tall
enough to handle inserts.

If they are, then you can wear any dress shoes, and use Dr Scholls or
a similar heavy-duty cushioning insert to take care of the comfort.

Ken

Try some Dankso clogs.  They're the most comfortable shoes around:
http://www.dansko.com/professional_mens.html

Log on www.salamandershoes.com the best german shoes you can find.