I really dont know for sure how deep I would be going, but it wouldn't be more than what hip waders would take care of.

Dive booties do absolutly nothing what so ever to keep you dry, neither do wet suits. That is a common misconception with people who dont use them (I thought the same thing before I started diving). They trap a layer of water between you and the suit, and once you warm that water with body heat, it stays there (assuming the suit fits nice and tight) and stays warm. That layer of water, and the neoprene it self keep you warm, but not dry. Also when worn in a walking in the edge of the water type of situation they fill with water, then try to pull off of you whenever your foot comes up, especially if it comes out of the water. I discovered that issue when wearing them on the beach in place of shoes after doing some freediving.

I thought about the trash bag idea (compactor bags specifically), but I figured I would get better durability and comfort out of something able to be fitted. I also really like making stuff, and I thought the waders would be a fun project to try.

Panning is new to me, I just recently got my pans and started getting them broke in and practicing some. I might be overthinking the whole thing a little, but thats just how I am. I always tend to be a bit over prepaired, but after some experences I've had out riding atv's and my being over prepaired making things work out alot better, that habit has been reinforced to the point that I tend to stick with it.