I have Eggbeaters on my road bike, and I love them.
I used to ride regular quill pedals with clips and straps, of course, back in the old days (MKS, SunTour Superbe, Campy SL), and then used Campy/Look, Ritchey, and Time ATAC (on my mountain bike). I put Eggbeaters on my bike after trying my son's cross bike with Eggbeaters. The Eggbeater design is very similar to the Time and Look spring-loaded bar design, but lighter and more simple.
I can use them with either my road shoes or my mountain shoes (i.e., shoes with recessed cleat fittings that let me walk like a human being). Easy to click in and release. Easy to clean if needed, easy to rebuild, and very nicely made. Plus the design doesn't change every year or two, with a huge price increase! I have not experienced any hot spots from these, but that depends much on your shoes (I have Carnac shoes).
Road pedals may claim to have more surface area for an extended contact between shoe sole and cleat, but I can't see any significant difference that isn't otherwise probably affected even more by the sole of the shoe. Others may feel differently, and do; you'll find reports all over the spectrum. But any sole these days is so stiff that if the shoe fits, it reduces the chance for any hotspots caused by a small cleat that is otherwise fitted correctly onto the sole.
One might claim there's more clearance in turns, but I don't race, and most of the pedals that clamp onto a large cleat have far more depth below the spindle than do the Eggbeaters. I've seen several pictures of pro and top amateur road racing bikes fitted with Eggbeaters.
Of course, the cycling world is full of differing opinions on this.
I had to cut away some of the tread on my mountain shoes to clear the Eggbeater spindle, but that kind of modification is frequently needed with any pedal system. It's easy to do with a Dremel rotary tool or with a grinding/sharpening stone mounted in an electric drill.
I have to say that the price of shoes and pedals is just astronomical nowadays. From the manufacturers' perspective, it must be the perfect blend of attire and componentry that yields greater profit per item than anything else in cycling.
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