I bought both the black and cognac version of this boot and simply have to say phenomenal product.
They certainly don't come cheap, but having owned a pair of Frye's for over 3 years I can attest that Frye makes a product built to last.
While one is definitely paying a price premium for a name brand boot, it's not simply purchasing the brand. The quality of the leather is excellent; butter soft and feels as if you've owned and broken the boot it for years and not days.
The style of the toe was a selling point for me as I was looking for something more "classic" than fashionable in the hope that I would find myself still wearing these boots decades into the future (yes they are that sturdy!). They do look great with jeans or slacks and there's a little bit of flash due to the harness on the boot.

The four stars is simply because I'm of the opinion there is no such thing as a perfect product and the only issue in this case is the price; these puppies don't come cheap!