Before these, all my cycling shorts were entry level. After these, I became a loyal buyer of Castelli gear and would not consider going back to the cheap stuff.
Fit and appearance: These shorts, like all Castelli products, tends to run small. I have a 29" waist and the mediums fit perfectly. These are designed to go with the Velocissimo jerseys, but you can probably mix and match with a fair number of the other lines. Anyway, slightly mismatched stuff is supposed to look "Pro," right? Some of the Castelli bib shorts don't sport a very durable logo, but the logos on these are very solid and look like they'll not wash or wear away. The design's interesting, and the red gripper on the one leg is pretty cool too.
Functionality: I've repeatedly worn these shorts on long (60+ mile) rides and feel absurdly comfortable. The gripper keeps the shorts where they're supposed to be. The KISS3 padding is wonderful for the sit bones and it's not even Castelli's best. Moisture just vanishes out of the shorts. It can be hot out, but I don't feel like I'm baking underneath. No regrets buying these whatsoever.