Vibram (Pronounced Vih-Brum) originally developed the Fivefingers (VFF for short) to get as close to barefoot as possible, while still providing protection for your feet. A long time manufacturer of soles, this is the first finished shoe that Vibram has created. So far they've been received well by the world community, they work well for the watersporters and light trekkers that they were designed for, and have been adopted by those who also with to run in them. (Not to mention a plethora of other activities that have been enhanced because of foot stimulation.)
The model I'm basing this review on is the Sprint. There are four different models all with slightly different fits and purposes. The classics are as minimalist as possible. Sprints have an extra strap to stay on better. KSOs are designed to Keep Stuff Out, and have the extra strap as well as a mesh that goes up to the top. Finally, the Flows have a different rubber compound for the sole and have a neoprene upper to keep you warm in the water.
FIT:If you get the sizing right, these things are like gloves for your feet. I suggest you go to a retail store to try them on before you buy though, these shoes wont be right unless you get the sizing as close to perfect as possible. I have small feet, so my exact size wasn't available. I have a 41 and there's a bit of room left by the heel, but so far that hasn't been a problem.
FLEXIBILITY:Holy shit are these shoes flexible. They act like a second skin, bending with you wherever you go in any practical foot motion. The toe slots definitely help for this.
WEIGHT:The VFFs are very light are minimalist. I prefer low-cushioning shoes, and these things are even lighter than my daescents. I've done some light precision training with them, and I might as well have been barefoot.
GRIP:I'm used to stealth rubber which sticks like a mother, so the grip was a little disappointing for me on wallclimbs. They do beat out my old newbalance runners though. These shoes are really meant for more natural surfaces like rocks, and their "razor-siped" soles help to keep your footing.
BREATHABILITY:Let's face it, these shoes STINK. If you wear them more than a few times without washing them you wont be doing any breathing. But these are totally machine washable so it's not really an issue. Oh wait, wrong section

These shoes are very comfortable and breathable out in the heat.
CUSHIONING:Wait, what? Seriously though, these shoes are designed to provide the most close-to-barefoot experience as possible. Yes, they do provide a decent buffer between you and the ground though.
DurabilityI don't see the sole on this shoes grinding through any time in the foreseeable future. I haven't had them long enough to give a life expectancy, but it seems like the problem area is going to be the cloth upper. The seams are likely to start fraying after rigorous use and that will probably be the killer of this shoe. These shoes are meant for hiking and beachy activities, so I do have confidence in them lasting.
PriceUnfortunately, you're paying a lot for a little with this shoe. At 80 dollars, this is quite the investment. (Holy shit Mike, you have quite the shoe budget!) Whether or not the versatility of this shoe is worth the price is entirely your choice. I say yes.
GENERAL COMMENTS:These shoes aren't very practical for parkour, but they do have their place in training. The grip isn't as good as I would have hoped, but the benefits of near-barefoot training are tremendous. Running, balancing, and climbing training is better than ever with these shoes.
The Bottom Line:It was a great buy, and "barefoot" running has brought a lot to my life. These aren't quite as useful for parkour as I would have liked, but for balance and climbing training they do very well. Plus running "barefoot" without having to worry about puncturing my feet is great. These shoes are the cure for shin splints

I love my toe shoes.
Pros: Very lightweight. Comfortable. Being able to feel with your feet is great.
Cons: Stinky. Straps on sprints can sometimes chafe. Expensive. Can be painful if you're not ready for the change.