After a decent interval of procrastination, I fitted some press studs to a pair of cutdown NZo 307 Lites, thereby converting them into a decent pair of cycling plus-twos. I have been commuting in them for a couple of weeks, worn over a pair of NZo Cruiseliners.
While you can get knickers in hemp, or wool gabardine, or fancy Swiss nano-fabric, the cutdown 307s are hard to beat for cost, ease of laundering and Nzo's legendary crashworthiness.
The only downside is that NZo doesn't acually make these themselves. If you think you would like a pair, or better a pair of knee length Dobies, feel free to deluge NZo with emails.