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Look, if you're facin' down thugs with guns, you want to be taken seriously. If you gotta run around, high heels ain't gonna cut it. And yes, Superman and other dudes of the spandex set fail on this score just as badly as the bikini girls with machine guns set. If some ancient god, built like an olympic swimmer and barely wearing more than a laurel wreath, shows up in middle of my meth factory, my first reaction as a hardened criminal is to laugh and say, "Kill this nancy boy."
Of course, said "nancy boy" might drop 30 petatons of holy wrath on me but that still doesn't erase that first embarrassing reaction. At least Thor wears armor. As such he's taken seriously--well sort of. He probably gets a lot of "blonde surfer boy" comments.
You want the bad guys to fear you rather then stare at your "equipment" and make ribald comments.
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No I don't. I want them to underestimate me. If I walk in looking like a one-man army, they'll treat me like one. That would be bad.
As others already pointed out, mindgames are a perfectly valid means of taking your opposition off guard, and near-nudity seems like an excellent way to achieve that. After all, a topless chick in short shorts couldn't possibly pose a threat riDEAR GOD SHE JUST PICKED UP MY ENTIRE WAREHOUSE!
On the other hand, in the world of CoX, I get the feeling villains don't care what you're wearing: they already expect you to have laser fingernails and pyrokinesis so they're going to throw everything at you from the moment you engage whether you're in a full-body armored powersuit or just a thong.
In a related topic to the OP, I find it hard to build good "casual" outfits. There's a lot of over-the top armor, theme costumes (pirate, soldier, etc.), latex/spandex options and inhuman skins, but just a plain denim vest and relaxed fit jeans? No dice. (The biker vest isn't a bad substitute, though.) Most of my characters go with the "with skin" options simply because they're the most flexible options. Everything else feels a bit too niche.
I do have some plans if I ever get the roman armor unlocked, though...