The Shimano PD-M540 is basically a slightly more refined version of the PD-M520 which I've previously described on these pages as "a classic and one of the best value pedals out there."
These look a bit smarter, they're 25g lighter and £20 more expensive at RRP; in reality you can pick up the 520s for around £17 while the 540s tend to be about thirty quid. If it was my money, I'd save the difference and get the cheaper ones, although both are excellent.
According to Shimano these new pedals are good for "any onroad purpose from Granfondo to racing". if your shoes take two bolt cleats then these are light and smooth enough for pretty much anything. In fact, at barely 290g a pair according to the road.cc scales they're a scant 10g heavier than the claimed weight for Shimano's top end Dura-Ace race pedals (on Shimano's claimed weight, 286g, the PDA-600s are only 5g heavier.
Comfy as slippers, safe to walk in and sharp looks too. Shimano's new RT81 shoes are a brilliant mix of proper road shoe and real world practicality. If you want a road shoe without the hassle of using road pedals, this is it: a road shoe for SPD pedals or indeed any other clipless pedal that with cleats designed along the lines of Shimano's mountain biking and commuter offerings.