Korkers with felt and stud sole.
Waders are handy as they often allow you to stand in sandy areas below the rocks in maybe a foot of water. There are only a few locations on the canal where I wade out to waist deep.
In almost 50 years of Canal fishing, I've never laced on a pair of Korkers. Not even once. I wear a pair of hiking boots, with an aggressive tread sole. I've never taken a bad fall. Of the few times I've taken minor falls, Korkers wouldn't have made a damn bit of difference. Every so often, I forget the cardinal rule of climbing up/down Canal rocks: test the stability of any rock, even the big ones, before you put your full weight on it.
It seems when I wear just my workboots, I always end up at a spot where I need to splash though a foot of water. That said, I usually just wear my cleated wader boots over a pair of woolies. If my feet get wet, they'll dry. I have jumped in to grab a fish that bellied up after release. It's a long ride home in soaking wet jeans.
I wear a good pair of waterproof Gortex hunting boots with Korkers. At my age, I feel a little more secure with the Korkers. They do work but as Ditch said "test the stability of any rock, even the big ones, before you put your full weight on it".
A couple years ago I picked up a pair of Simms Freestone Vibram wading boots and installed their "hardbite" studs. They work great on the canal rocks. The studs have gotten pretty worn down and a few are missing. Need to do some replacing before the season.