i guess it all depends on your figure- personally i like straight leg trousers and drainpipe jeans, they mean you can get away with marginally too short trousers, which is a bit of a problem when you have 35" legs, i think high waists can be quite unflattering though and so can straighter legs, then again ultra low jeans with a great tyre overhanging is pretty disgusting too, i think its more a matter of what works on your figure, i still like low fitting things but tend to avoid the ultra tight look or any fabric which is going to look cheap and trashy
i think the high waists have come in on the back of the "return to ladylike" dressing which a lot of places have been plugging,
plus you can only see so many bad stomachs before you decide that it is time for a cover-up and rethink.