My shorts are not quite that low, but they are right below my belly button, or maybe about 1/4 the way up. I like the lower shorts, with a very flat front, just like my pants. I like shorts to have LOTS of lycra and be on the longish side. The length is not an issue, since I am short and regular length fits me longer.
As for the chamois, I like the contour ones. They are thick in some places, not others. What I don't like are wide chamois. Feels like a diaper and chafes.
All my shorts are Terry Bellas and I have one pair of Sheebeest that are a bit shorter, but have a similar chamois.
I would never ride on a gel/padded seat or wear shorts more padded than the ones I have.