I'm 5'6, 26 waist/37 hip, and I just bought two Castelli jerseys that fit really well and don't do the riding up thing. I bought the Partenza jersey, which TE carries, in black and in fuschia (my bike has pink "stuff" too!) -- the hem is trimmed in lycra more than in elastic per se. They're also long enough -- my other jersey pet peeve is jerseys that sometimes flash your belly button. Since my torso is on the long side for my height, it's a problem I run into more than I'd like. I love the Castelli fabrics too.
I have a few Shebeest jerseys. No elastic on the ones I have, so they don't ride up, and they are cut nicely/fit well overall, but I find them a tad on the short side (not as bad as my PI jersey though).