I'm in huge favor of a silicon gripper substance (like the new stuff Castelli uses on their shorts) that doesn't have to bunch up in order to keep the fabric in place. I have no idea why they haven't started using this type of gripper material on jersey's ?!

Or maybe an old fashioned draw string jersey?? Best of both worlds.. tighten it up if you don't want the flapping, let it loose if you don't need it.