A buddy of mine built a small box out of plywood and ran 4 pieces of PVC out of the top of the box for your boots/gloves to sit on. On the front side he attached a bathroom ceiling fan. It doesn't heat up and the airflow does an amazing job getting things dry. I put my Xcel 7mm boots and 5mm lobster claws on it overnight and they were completely dry by morning.
Works like a champ, and little or no stink whatsoever.
I've been drying them this way for the past five years and they're as supple as ever. It's a very low-temp drying process, it takes about 2.5 hours to do the job thoroughly. Way better than the stink to be sure. Plus, if you don't want any heat, a simple switch right below the self-shut-off timer turns the heat on or off.
good air circulation is the key. i put mine in front of a fan and they dry out pretty quickly. better safe than sorry with heat too. i use cold water and no soap to rinse and keep them away from heaters and the sun. also, i don't turn them inside out or wring them out. gotta baby the seams!
I just recently built my own boot dryer. Very simple. Made a box out of spare 1/2 inch plywood. About 6 inches X 24 inches by 16 inches. I then bought a cheap bathroom exhaust fan from the Home Depot ($13) and installed it in the box. Drilled four holes in the top of the box put 2 small sections of PVC in 2 of the holes for my gloves and 2 thicker PVC pipes (still not very thick) for my boots. Ran the cord out of a whole I drilled. Caulked the whole thing air tight.
The thing dries my stuff in about four hours or less. Never gets hot because it is simply an exhaust fan. The whole project probably cost me about $25.