Yup, I think newspaper is better than plastic when it's cold, because it'll absorb a little extra moisture instead of trapping it. I have pretty loose shoe covers though, so if yours are tight, like my old ones were, you might want to consider scrapping a pair of large old socks instead.
Winter riding is much less about badassery and much more about bundle-uppery. - malkin
1995 Kona Cinder Cone commuterFrankenbike/Selle Italia SLR Lady Gel Flow
2008 white Nakamura Summit Custom mtb/Terry Falcon X
2000 Schwinn Fastback Comp road bike/Specialized Jett