I'm currently riding an older specialized saddle with a nice large cutout.
I have a drop-bar'd bike and the saddle itself rises slightly above the bars.
I have been using the drops a lot more lately after discovering that it's more comfortable to have an even weight distribution leaning forward than to have it all on my rear sitting more upright. In general I'm either in the drops or the hoods.
Recommend anything? No leather saddles -- between the theft worries and rainy-weather maintenance, plus what appears like a lack of a cutout, they don't look like good ideas for this specific bike (though I might consider one in the future for my upright folding bike)