CyclingNews.com just wrapped up a test of Northwave‘s top-of-the-line Aerlite S.B.S. road shoes, which feature a new, full-carbon sole (versus the previous carbon/titanium), massive ventilation efforts and a wooden arch support.  The Aerlite S.B.S. comes with their Anatomic Pro footbed, which is a thermoformed and bonded wooden insole that supposedly helps with heat regulation (wood doesn’t really hold/conduct heat…unless it’s burning, I suppose) and via holes and air channels that work in concert with the vents in front of and behind the cleat mounts.
Additionally, the insoles have a special “island” area, as Northwave calls it, that is supposed to dampen vibration before it reaches your feet.  Besides looking cool, the massive side mesh areas help vent heat and perspiration so that they actually are cool.  MSRP is around $320, but street price is $199 to $259.