I'm not a guy, but mens' fashion was a hot topic in my Fashion Forecasting class last semester so I'm gonna comment on it anyway.
Both mens' and ladies' fashion are being influenced a lot by the Euro-trash look, but I think that's just a phase in the return to a more dressed-up style. For the past ten years or so, mens' fashion has gotten more casual (hence all the baggy jeans and polo shirts), but now we're seeing more men who want a more polished look, especially at work. A guy in my class did a presentation about mens' businesswear, and from his research he predicted that suits will make a comeback to replace the "business casual," which was terrible anyway. I tend to agree with him, from what I've seen. So don't worry about the tight pants...they'll be replaced soon enough.