This is how I like them, too. One inch from the thumb/finger V seems too long to me. When you button it, doesn't it bunch up? That drives me nuts. To me, material bunched up at the end of your shirt sleeves looks just as sloppy as excess length on pants bunched up at your feet.
In my opinion, you pick the pair that is either 1) closet in color to the pants or 2) provides the most contrast - depending on what you like. Sometimes, when brown shoes and brown pants are off just a bit, it can look kind of funny.Since the pants are flannel, you also want a heavier shoe - probably the wingtips or suede derbys.
I'm a fan of bow ties. I am also a fan of plaid sport coats, plaid pants, etc. In my opinion, the key is moderation. Meaning, you don't wear a bow tie with a plaid sport coat and saddle shoes. Then you just look like a clown.
So, to answer your question. I would say stick to a white shirt and a solid sweater - grey or maybe blue.