In summer 2004 I bought my first pair of breathable waders at Orvis because of their generous return policy.
Last spring I ripped a hole in the seat and patched it. The patch was leaking so I brought the waders back to the Palo Alto store to return. I couldn't remember the exact return policy, but I thought it was $50 for a replacement pair. When I asked the salesman, he said, "No, it's 50% off a replacement pair" which was $185. Disappointed, I didn't pull the trigger.
The next day I went back for the deal, 50% off a replacement pair... but the same guy says, "No, it's 50% off an upgrade" which was $285. Now I was HARD PISSED!!!!! I calmly walked out of the store with my middle finger on the side of my face and called Orvis customer service 800 #.
The Orivs return policy is 100% replacement in the first year, 75% in the 2nd year, and 50% after that. The service rep on the phone gladly offered to replace my waders for free.
Conclusion: Orvis has a good wader return policy. Don't visit the Palo Alto store.