I also have a high instep and this is compounded by having very wide feet. I tend to focus on the width and treat the high instep as a secondary issue. Nearly all Allen Edmonds lasts are too narrow for me, even in an EEE width.
A high instep almost completely rules out balmoral shoes. However, I recently picked up two pair of different style shoes on AEs #373 last and they both fit wonderfully. The Chester (a discontinued model) is a balmoral, but AE describes this last as “Fullest girth measurement with a tapered toe and more room over the instep.” This seems to be true for me. It is the most comfortable balmoral I have tried. Unfortunately, they make few shoe styles on this last. You may also find the AEs #1 last works. It fits my high instep fine, but it is simply not wide enough for me.
I also find Alden’s Barrie and Modified lasts are a good fit for me. If your instep is an extreme case, you may find Alden’s CDI last works, but the shoes could be considered ugly by many people. The line of comfort vs. ugly is one you have to make. Comfort for me is a priority and this means a shoe one can walk in for a few miles in total comfort. With some styles the compromise has been a shoe that works for a day at the office, but my feet are happy to have them off at the end of the day.
I don’t live in an area where I can try on the shoes, so I have bought inexpensive models off Ebay and try them for fit. If they work, I buy shoes on that last. Unfortunately, many have not fit well, hence the compromise noted above. Nevertheless I have found through a somewhat expensive and lengthy trial and error that I now have a decent rotation of comfortable shoes.
I think the key is to try shoes on when you can and don’t let anyone tell you what should work – find out for yourself before you make new purchases. Take your time and don’t settle for uncomfortable shoes.