I find that felt is useless, if not dangerous, in icy cold weather. Ice even builds up to monumental proportions on the soles whilst hiking--I've had 3 inches thick. Felt is fine in summer, but not in cold weather. I hate it.
My new Simms non-felt boots are awesome, and were NOT particularly expensive. $140 a pair for any kind of *working* boots is normal, same for wading boots.
DANBOB