I really like my baggy-style Ocean Rodeo Soul. I have 6 years and 100s of sessions on it and haven't had to replace the gaskets yet. I do put 303 on them almost every session, though. I find baggy suits so much more comfortable than neoprene suits. And, I can vary the warmth by just adding layers when it gets colder.
But, they have a serious problem: The Durable Water Repellent coating eventually fails. And, I haven't found any amount of Nikwax or Revivex properly restores it (and I've done ALL the recommended steps - even talked directly with Nikwax support).
And, the DWR is really important. First, when water wets out the fabric's surface, you get evaporative cooling. Also, any surface that is wetted out makes the fancy breathable material no longer breathable. So, I end up being soaked from my own sweat by the end of the session. If I want to sail for more than an hour or two, I need to bring a 2nd set of base-layer to change into. And, the DWR situation has only gotten worse in the last few years:
www.patagonia.com/stories/our-dwr-problem/story-17791.html