I wouldn't consider a AE for hiking. There are better companies out there that actually specliasie in outdoor boots like Timberland, Merrell.
I'm a avid hiker (day only). I've gone thru 2 pairs of Timberlands Choruas (GTX so somewhat water proof) and currently on my 2nd pair of Merrrel Moab GTX.
On the same note, I've hiked with my Iron Rangers (vibram sole) once and it did very well and the oiled leather is designed for such stuff.
Same goes for AE boat shoes.....there are better options out there like Sperrys/Sebacos that actually specliaze in such activities without the price tag of AE.