Do those of you who own Loake 1880s and Church's find the same difference in sizing as me? I take a Church's size 8.5 but a Loake size 8 - a good half size difference. Oh, and there is indeed a lump of plastic in the heels of my 1880s - well disguised.
The question of where the law of diminishing returns becomes critical is an interesting one. This is bound to be very subjective, and obviously depends on resources and priorities. Church's being roughly double the price of Loakes 1880, I can understand people stopping at Loakes. 1880s cost only about 50% more than rubbish. Also, when you start moving up the ladder it's difficult to climb down again! I'd say if you're a fairly conservative, suit-wearing sort of person, then Loake 1880 are the cheapest shoes that won't let you down socially or professionally and you won't be thoroughly disappointed with (plastic heels notwithstanding... though if I'd known...)