I saw a great single strap sueded monstrap chukka on a crepe sole at pitti last year, not unlike the black ones that Panico wears. I think that that model would look awesome in grey suede.
The attraction of those particular chukkas is the color and textural contrast between the grey suede, the dark welt, and the natural crepe. You can play around with other things - the last, the model, etc... but you mess with that, and, imo, you take away a lot of what makes it attractive. It's also what makes @rydenfan's chukkas attractive. The difficult thing, imo,k in styling (because that is what it really is, design is something else altogether) is to discern what makes something interesting and attractive, and to keep those elements, while changing other things to your liking. At the end of the day, a MTO project is yours (or a group's), but I've seen a lot of people who do MTO a bit dissatisfied because they failed to identify what they found attractive about a product to begin with. The main material is obviously important, but ime, it's generally more than that.