Two... no actually three schools of thought being discussed here.
First, dispense with the $ 60 cheapo's from Wlmart or Canuck Tire - They'll KILL you quicker than you can imagine, are downright uncomfortable, poor floor gripping for wading safely. NADA! Never!
Now the debate between breathables and neoprene. Some like to diss one or the other, but both definitely have their place: What type of angler are you, and when will you most likely to be wearing them? If you're an aggressive, bush-bashing madman who constantly searches for that special place a tad beyond the beaten path, STAY AWAY from the breathables! They tear more easily than their proponents will have you believe (numerous occasions witnessed first hand), and offer little in the way of protection from snags, bouncing off of rocks etc. If you're comfortable working the main drag, and are willing to take care NOT to beat them up, the breathables are admittedly more comfortable, and offer much better freedom of movement. However for the diehard long-range, bush-bashing fanatic, neoprenes are the best FIRST choice.
If fishing the spring summer and fall, breathables are luxury! If working January steel, you'll pour on enough polar fleece that you may as well be wearing neo's, and affording the extra insulation/protection they offer.
I've had both. Now just neo's as I (and a LOT of my buddies) simply can't get breathables to last more than a couple of hard run outings. For your first pair, I'd strongly suggest neoprenes from a reputable maker (SeaTux my current, two years and ticking, albiet more than a few patches.)
Cheers,
Nog