The footbed is a soft, memory foam which seems to mold to the foot. I FIND THAT AFTER MANY WEARINGS THEY HAVE STRETCHED, MATTED DOWN TO BE SLIGHTLY LARGER, which is not a realy issue for me as now I feel like I can wear them with socks. They are full in the toe box like a Keen, room to stretch. They seemed to be slightly form fitting, not tight, before I started wearing them alot. I can't speak to the waterproof as of yet, but they are warm and comfy. I plan on wearing them casually, walking the dog and even running to the grocery store.