Since I live in a college town, the only people I see wearing the baggy pants are black guys and maybe a few white guys that do it. Most of the little frat boys we have running around here wear the medium fit, although they seem to be getting into a slightly tighter fit. The only ones who wear the really tight pants are the hipsters and scene assholes.
I guess clothing is a factor in picking out a potential mate, at least for me. I generally don't even talk to the guys with popped collars or expensive brand clothes. They're trying too hard to impress people, is my opinion. Unless you have a job where you're paid to look dress casual, I don't see the point in guys walking to classes every day looking meticulously groomed. Mostly I go for the jeans and t-shirt look...kinda innocuous.
For women, when is the Victoria's Secret "Pink" crap going to go out of style? Every other girl I see at school has a stupid t-shirt or shorts that say "Pink". If you're going to wear pants with a message on the ass, why not make it count? If there was a pair of pants that said "ass sex" or "dirty whore", I'd buy those because that's what is really meant by having words written there.