Don't get me wrong here; for the most part, this outfit deserves the fawning and adoration it's been receiving. The jacket is superb, and the color combination all around is great. But damn it, man, I just can't get behind the pleats. Put me in the contrarian camp on this one.
These pleats look better than 99.99% of pleats I've seen in person or in pictures, but they still create a billowy look at the hips. They don't give you true birthing hips, the way a lot of pleated pants are prone to doing. But the effect is still noticeable, and less than entirely flattering.
I guess the litmus test people have been using here is to look at the pleated pants and ask themselves "Do these look terrible, the way I expect pleated pants to look?" And the answer is a definite "no." But I look at them and ask "Would this fit look better with flat-front pants?" And I can't help arriving at "yes."