Check these out: Amazon.com : Sugoi Men's Remote Short (Black, Medium) : Athletic Shorts : Clothing

They have padding (which isn't so great) plus they're baggy enough to look cool but not so baggy that they interfere with your riding. I actually cut out the padding part that comes with them and use a better cycling short (I like the Bontrager Solstice, it has great padding and is cheap at about $50) underneath them.

I have a pair of these too, you can get them at Dick's. They're a little more stylish than the Sugoi: http://www.dickssportinggoods.com/pr...25420.13061620

I've gone to always wearing the spandex/diaper getup because it's way more comfortable than underwear and gym shorts, not even close. But depending on where I'm riding and what I plan on doing during or after the ride (stopping for lunch, etc.) I might wear the baggy shorts over top of the cycling shorts.