Pedal Advice Please

Does anyone out there use Wellgo W-40 also sold as a Nashbar item ?
My current pedals are an ancient set of Exus E-1's that have served me well for cheap pedals, the tension adjuster has been rebuilt/suped up, but they are pretty much flogged out.
I have been told by a friend who use to be a pro cyclist that a stuffed set of genuine look pedals would be better than a new set of cheap look compatible pedals. But I am having trouble bringing myself to pay the premium that is usualy being asked for genuine look.
I can get a new set of wellgo pedals for $46.
I am generally a competative weekend warrior I do up to 250 km's of hard training/racing per week and will probably increase that once daylight saving starts.
Anyone out there have any suggestions?

Thanks
Dean

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Wellgo are cheap but they will not last. It's false economy. Buy cheap and nasty many times or pay extra and only do it once.
Look pedals are good.
Shimanos are good. I have PD540's and they seem fine to me. Not expensive - $100 AUS. May not last as long as Dura-Ace or top of the line Look pedals but wouldn't be far off.

If your looking for durable high spec pedals, I would recommend the Shimano PD-6620. Wide platform, durable alloy/ stainless steel construction, smooth bearing system and durable cleats with walking pontoons.

http://www.probikekit.com/display.php?code=M8003

If you ride 250km/wk, get the good pedals. It will be worth it.