After I stopped wearing a suit and tie for work I had virtually no call for a nice pair of shoes... if I had a nice meal or any sort of function I'd just run out for a pair of what you'd consider cheap shoes (Ted Baker or Lambretta usually, whatever I liked the look of). They last a while, but cheap enough to be disposable.
Trainers on the other hand... I happily spend a couple of hundred quid on a pair, and for a while that was pretty much a WEEKLY occurance. A few years ago Footlocker had the best new-years sale I've ever seen, before or since, and they delivered my order on a pallet.
So yeah, I tend not to care much about dress shoes. Churches, Loakes etc... all well and good and I've been impressed with the quality of them, but for me they don't really serve a purpose.