Amen, brother. Amen!
Does anyone get mocked for over-dressing at work? - Page 9
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So here's an update almost a year later...
I took most people's advice and bought better fitting clothing, shoes and sport coats. I often wear a sport coat with odd trousers and a pocket square. Over time, people started questioning less and started to compliment more. Actually, I've started to get a lot of compliments from co-workers. In addition, some colleagues have started to follow in my footsteps (buying sport coats and pocket squares), yet there's still the question about the quality of clothes they're purchasing.
All in all, it seems to be more accepted. Thanks for all the helpful, and some not so helpful, responses.