I always wear bibs when I ride, unless it's simply to the store/park with the kid/trail-a-bike, etc.

The Hammer Nutrition bibs are the best buy out there...unfortunately you then have to be a billboard...but...you can't beat the Bergamo bibs and their really nice E.I.T. multi-d chamois. At $90 their almost 1/2 the price of comparable bibs (ie Assos FI).

YMMV of course...