I wear cycling clothes (cycling bibs, jersey, helmet, shoes, socks, Halo sweatband, gloves, Road ID) for cycling. Road, Mountain, Fixed... it's all the same outfit. There's nothing more I hate than to be sweating in street clothes that don't wick moisture or, in the winter, fails at wicking moisture while retaining warmth. Street clothes just suck for riding, plain and simple.
You know, there are tons of "non-cycling" looking clothes out there that work great. Fox makes a great cycling knicker (as well as other companies) and there are synthetic and wool relaxed fitting jerseys that are nice. Cotton soaks up sweat and keeps the skin wet which is horrible in both hot and cold situations.
I don't know why FG/SS folks overcomplicate things. Cotton jeans, shirts and hoodies are horrible for riding, unless you want to adhere to fashion instead of function. Wind resistant and moisture wicking cycling specific clothing is much better that any of that sweat soaking stuff.