I love these studded converse sneakers from shopplanetblue.com.
However, at least for me the price tag of $525 is completely out of the question. I'm sure a lot of hand work went into these and, if you can afford them I say go for it! If not, with a little time and patience, I think this is a perfect D.I.Y. project.
First get yourself a pair of regular converse black hi-tops ($45). Urbanoutfitters.com carries these in white or black or you can get a variety of colors from converse.com.
Then purchase metal studs in bulk. Studsandspikes.com has a great selection. For this project you would need the pyramid studs in both small and standard sizes (a bag of 100 is $3.30).
Here's a tutorial on how to stud leather. For canvas the step of poking holes can be skipped. I'll let you know how mine turn out. Happy studding!