If the brotha has the body for it, I don't mind preppy clothing at all within reason. I'm not talking what I call the effeminate type of preppy, such as Belgian loafers on men, excessive pastels and Stubbs & Wootton gear.
A shaved head is a wonderful thing. Otherwise, a nice, tight fro. Facial hair trimmed within reason.
I just think that masculine elegance equals sartorial conservatism. A well-dressed man, IMO, NEVER wears shiny tight shirts, gators, or bright colors except in certain situations (read: NPHC fraternity-related events.

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ETA: These are a women's pair of Belgian shoes, but imagine them on a man. A little bit, err, geigh.