Just right amount of baggy.
I bought the 2009 version in True Black. They are actually black. I like my snowboard pants baggy but not so saggy that I can't walk right. I am 5'10" and 160# and I got the large ones. They fit over my knee brace. Very waterproof on wet spring chairlifts. They have the snap straps that keep them from dragging across the parking lot, sweet feature. There is only one cargo pocket, so they could use one on the other side, that's the only thing I would change.
Backcountry outlet has the best service, I buy a lot of my gear there (and Steep and Cheap)...very good customer service.