I visited Imelda's over the weekend (my favorite Portland shoe/accessory store, despite their encouragement of rampant overspending with taglines like "this is why credit cards were invented"), and found the shoe of my dreams! I know the ruffled t-strap style has been around for awhile, but the ones I have seen seem to either be flat gladiator-esque sandals or teetering heels that I will never be able to walk to work in.
Behold! The Jeffrey Campbell Tab style shoe, in black and pewter:
The heel height is ideal for comfortable city walking, and the peep toe is just the perfect twist on the basic t-strap shoe. There is also a lovely brown pair out there that I debated over as well.
(hint: this eBay store is selling the black/pewter shoes for a little over $80, with free shipping.)