The Orvis rep that I spoke to said that they would be on sale until the sizes have ran out. If you want a lighter option then their wet-wading sandal is also on sale at $79, down from $120.
I have no experience of Dan Bailey and thus, I cannot comment. I do however own a pair of Orvis' Silver Label Hippers and have done for many years with no problems. Their lifetime warranty and 100% satisfaction guarantee is also second to none.
If you want a cheaper option for hippers then some of my friends purchased Cabelas' Three Forks Hip Waders and they have held up well over three-seasons and they have said nothing but good things about them, and at $45 the price is hard to beat.