Can anyone recommend an all-around shoe that they use for muni and mountain biking? Preferably with SPD capability and that would allow walking around with the cleat attached?
Does something like this exist?
Maybe something like this?
http://fiveten.com/products/footwear-detail/23-minnaar
It looks like it takes Shimano SPDs, right? And then are they recessed, so that I could also do muni with them without taking out the cleat?
So your looking for a shoe to use mountain biking with spd pedals and muni riding?
Your best bet is to have two pairs of shoes. Spd shoes generally don’t have the good grip you will want for flat pedals (they use the mechanical action of the cleat to connect your foot to the pedal). Another option is to ditch the spd pedals on your bike and put platforms on it (best idea 
).
Five Ten Cyclone is a nice shoe, not too stiff, cleat recess is probably good enough for multi use, but you’ll need to play around with pedals to find one that doesn’t hit the cleat.
I ride the Cyclones for muni, covered the cleat area with a piece of rubber, nice shoes for most things, kinda slippery when wet, not near as good as a dedicated flat pedal shoe. I did some 36er muni in them this morning
My fav shoe “this week” is the Teva “the Links”.
BTW, some of the Five Ten spd shoes use a fiberglass midsole stiffener, it is fragile, not that flexible, and it can snap, leaving you with a floppy worthless shoe. Look at the discriptions of the shoes, for sure the Cyclone is nylon as I have a pair.
I riding my bike (with crank brothers mallet clipless pedals) in 661 Filter SPD shoes. They are good for walking as well.
For uni I use Shimano AM40 - they have awesome ankle bone protection 
So do you think these would be any good for multi use, or should I give up on the idea of shoes for both muni and commuting on bike?
I had the pro version of those shoes and even then they were very soft in the midsole. As a reformed biker, I’d never wear anything as soft as the X-Alps. I think they are revising the shoe for 2013, but only to make it better for clipless hike and bike, not for use as a crossover shoe.
The X Alps do not have enough sole flatness (rockered sole for clipless) to engage all of the pins on a platform pedal, the cleat will further reduce pin contact; it won’t work well for either riding mode.
The best shoe I have tried to date is the Five Ten Hellcat (not that Cyclone as I previously wrote, oops). I ride mine on flat pedals and they are soft enough to be okay for walking and riding platforms, but stiff enough for riding clipless. Depending on the pedals and clipless system you use, the cleat might not get in the way of the platform; that much 
Yeah, you should give it up, many great minds have already worked at this problem, but if you insist on continuing the search, head over to MTBR.