I fished a pair of Hodgman canvas waders from Bldg 19 in Warwick ($20) for several years without a single leak. They had a pile of all kinds--the defect on the pair I had was with the suspenders, maybe I lucked out. Got a new pair of neoprenes this fall and already got a leak
I thought they went out of business when the closed in Warwick. For 15$, it may be worth a shot, but Bloo's right, nothing's worse then leaky ones