I use the cheap foam ones as well, cylinder type-you roll 'em up and they expand to fit. BUT-I've been wearing these things day in and day out on the helicopters for nearly ten years, so I'm used to them. I remember they used to bug the hell out me, but they are second nature now. The whole "can't hear ambient noise" thing I don't really agree with myself, but that's just my opinion. If anything, they keep it quiet enough to think, and cut down on wind noise so much that I know for a fact it adds a full tank at least to my day on long trips. In addition, I feel like I stay more focused on what's going on around me, and I can hear what the bike is doing mechanically a lot better. In short, I'm a big fan. I'm thinking about trying some of those custom fit ones with the headphone speakers inside (Aerostich sells them). Anyone tried these?
I don't wear them in town day to day, but that's due more to the short commute and low speeds than anything else.