I've had a pair of
Joe Rocket Alter Ego pants since 2010. Admittedly I don't wear them very often, usually only if I'm going out on a long ride into areas I don't frequent, but they've paid for themselves on at least one occasion.
My first real "accident" was 100km out of town near the end of my 2010 season, making a U-turn on a backroad not paying attention as I hit a deep gravel shoulder. Dumped the bike before I even knew what happened, and it landed pretty hard on my left leg and foot. Other than being a little sore, no rash or anything and I'm sure if I'd only been wearing jeans & runners as opposed to the Alter Ego and Icon Field Armour boots, I wouldn't have gotten up so quickly.
They're bulkier than I'd want for daily commuting and sometimes uncomfortable, which is the main reason I don't wear them often. For short rides or commuting I'd probably want something more like the Icon overpants Slow1 mentioned, but if I feel anywhere I'm going may be a bit sketchy, I'll wear the Alter Egos.