I'm on my second pair of La Crosse waders, the new ones--now 3 years old--have leaked in the seams every year, but I just keep patching them. Seam leaks are easy to repair, but it's damn inconvenient when it happens in cold water. There's no reason that a company that specializes in boots and waders shouldn't be able to make a waterproof seam that last three season.
The worst waders I've owned have been hodgman. They are complete crap. The breathable ones had a complete breakdown in the fabric--water just started seeping through everywhere from the knee down. Customer service said it was my fault for not drying them properly -- and that they have since changed the product so that it doesn't happen with new ones. They offered to give me $50 credit on a new pair--which cost $60 more than the old pair--and I would have to pay the shipping. What a generous company. I'll make sure to recommend them to whoever asks.
Many years ago I had some hodgcrap neoprenes. Inside of the boot fell apart; seams leaked; buckle broke--all after one season.
In the past ten years I've been through 4 pair of Cabelas breathables. If they last less than two years I return them for replacement; if they last two years I figure I got my money's worth and buy a new pair.
Best waders I've ever owned are Simms breathables. They are on their third season of year round use, both fishing and hunting, and I haven't had any problems with them. They are spendy, but if I can get 5 years out of a pair, I'll be real happy. I go through a lot of waders because I lend them out to guys who don't have their own equipment and I take kids out quite a bit.
Rick