If your asking a practical keeping warm question, here's what I do.
1.I wear split shorts when I race and when I train and its warm or hot.
2.I wear tights under those shorts when I race and when I train and its cold but not raining or snowing.
3.I wear tights under a pair of Ron Hill tracksters when its raining or snowing, but never if i'm racing.
4.I wear the Ron Hill tracksters over what im wearing, what ever the weather to warm up before a race.
5.I never wear the tights or tracksters on their own as they are either, a) not warm enough or b) do not give enough support while running. I find the lining of my split shorts gives me the support I need,so i wear these over or under in the case of the tracksters.
6. I never wear underwear under any running kit because it is invaribly made of either cotton that holds onto sweat or of non-tech fabric. See 5b)
If your asking a question of appearance and social acceptance, heres my subjective compleatly unscientific opinion When ever Im at a race I look for the guys and girls in the shortest shorts and the running vest. Not t-shirt, vest, tucked into his shorts. If they have knee length socks even better.They are going to win or atleast be hard to pass. The cool looking runners with matching kit and shorts that cover all and socks that dont extend passed ankles? They are going to loose.
In otherwords zzzzzzzzzzzzzzzzzzzzzzzzzz