I recently went into Target to buy some groceries and wandered into the clothing department. I found these shirts called "Mossimo Supply Co Athletic Fit Shirts"(Mossimo is Target's house brand)...and they fit amazingly. They hug the biceps and don't flare out at the waist, and the length is perfect. They are soft(for an $8 shirt) and have retained their shape and feel after a couple washes(I've only had them for 2 weeks). I bought one, wore it for a day, then went back and bought some more because I liked them so much. I am 5'10", 185 pounds with a 42" chest, 34" waist, 15" arms and I wear a medium. I can post pics if wanted but I'm not sure if that's necessary with a t shirt. edit: http://www.target.com/Mossimo-V-Neck..._com_brand-bin
This is the exact shirt I am wearing right now.