I recently replaced my old wedges and hit the Ping IWedges. They are a solid wedge they felt kind of bottom heavy, really light at 7:30 and 9:00, but felt really heavy and deep at contact. Maybe a symptom of the cavity back design. I am a Cleveland wedge fan, but I found I like the Nike SV and Vokey Spin Milled better was really surprised I had anticipated buying a new set of Clevelands and walked out with a set of Vokeys.
But Back to the Ping wedges, kind of wierd feel to me, but performance was very good. I could not get them to spin that well (The vokeys spin balls if I just tap them) but nice solid roll out on chips and enough spin to stop the ball fairly fast when you lay it up. Nice Wedge for the money. Another wedge I was impressed with and did not buy was the Mizuno MP-T really felt light good spin.