Definitely lowcut.
Suits that are designed with high cut legs are okay, though I prefer all suits to be worn low on the hips. What I really hate is when a guy pulls a 'standard' bikini suit up high

....they just look ridiculous...such as:
I have a cousin (the guy who is responsible for my introduction and love of speedos) who sometimes does this and it drives me crazy. I keep telling him to pull them down a little.
