This is somewhat of a different spin on the "Is it Ok to Wear Pro Team Kits" topic that I see discussed a lot. The difference is, would you wear a team kit that advertises a bike company that's different from what you're riding? For example, would you wear a Saeco/Cannondale kit if you ride a Trek? Would you wear Independent Fabrication clothes while riding a Bianchi?
I'll grant that there's gradations to this, because some bike company sponsor logos show up much more prominently than others. Maybe I should put the question this way. Would you wear a Team Trek, Team Bianchi, Team IF, Team Cannondale, etc. kit if you didn't ride that particular brand of bike? If not, would you wear another team's clothing if one of their lesser sponsors was for a different bike company?
Note that plain clothes with a manufacturers logo don't really apply. I ride a Trek, and will soon have a Klein, but I really like Cannondale's Velocity shorts. That's a different kind of ballgame.