I'm a big fan of the Ultegra SPD-SL pedals that Shimano recently brought out. They use the same bolt pattern as Look (though the cleats and pedals aren't interchangable), but the cleats are walkable without slipping, and in general they appear to be a logical refinement on Look's design. The pedals themselves look way nicer, too
(I haven't ridden on Look pedals myself -- went straight from mountain SPDs to road SPD-SLs -- so I can't make a comparison based on experience, only what I have heard about them.)