What to Wear?

I think I asked this at our first dinner back in February. I still can't get my head around what one wears. The thought of biking or running in a swim suit sounds yucky, not to mention chaffing-causing. But I don't want the drag of swimming in running shorts and a tank. And I am not spending $100+ on a tri suit, especially when they're not easy-off for the multiple trips to the bathroom I invariably take before a race.

What are you all planning to wear? Tri veterans, what do you suggest?