Another vote for Muck boots. I've been wearing the Men's Arctic Sport for the last 2 years and I would never wear a different pair of boots on the ice. They are a 1000% waterproof, super warm and they're nice and high so when the water comes gushing out the hole when you're using your new electric auger it won't be an issue.
It never hurts to throw the foot warmers in there too.
