The M737 is Shimano's most expensive mountain clipless pedal, designed for use with the Deore XT and XTR group of components though it will work with any crank and drivechain. The body for this pedal is made of cast aluminum alloy, with tapped threads on the top and bottom for screws that hold the two cleat saddles. The interior of the body has threads for the spindle and bearing to turn into, as a single unit. The M737 is a reversing pedal, with separately adjustable clipless systems on both the top and the bottom, so there is no concern about trying to get the pedal upright to clip into it. One of the suggestions we've heard involved someone setting the top and bottom tensions differently, and marking one side with paint so they could, without adjustment, have the pedals set for two riding styles. One of this pedal's features not on the other SPD pedals is, the front steel clamp which holds the cleat is spring loaded. On the other models it's merely a rigid steel lip. This spring design makes blind entry easier. The housings that enclose the spring assemblies are made of cast aluminum.
The spindle is made of cast Cro-moly steel, that has a threaded nylon "sleeve" or lock nut. This lock nut is what threads into the body. A separate steel bearing race with twelve 2.2mm steel ball bearings for the inner bearing assembly is at the end of the sleeve. A steel tube with cupped ends makes both bearing cups, followed by twelve more 2.2mm bearings and a nutted steel race. The bearings are adjustable. These parts together make a single spindle and bearing assembly that threads into the body. The pedals come with a set of SM- SH50 cleats and their mounting hardware as well as a TL-PD40 spindle/bearing removal tool. The pedals are Black with Silver saddles and retaining clips, the pair weighs 510 grams, and the Black cleat set, with hardware weighs 63 grams. These are no longer made and have been replaced by the 747 which will be reviewed by mid-summer 1995. We sold these for $119.99 a pair.