I second the no elastic at the bottom statement. Twin Six has figured that out with their women's jerseys.
I have the boob issue as well. I should be wearing M/L but I'm stuck wearing XL or in a men's jersey I wear a L because of my 36c bra size. It's very aggravating shopping when something that would look cute looks trashy because you're cleavage is hanging out.
As far a cycling clothes go I just want something not super girly. I kind of can't praise Twin Six enough because they cater to that stylish, yet not uber girly clothing I like.
The chamois issue is something that cycling companies need to work on as well. There's nothing worse then going on a 50 mile ride and feeling like you're wearing a big sweaty chamois cream filled diaper. I know things seem to be progressing as more and more women are involved with the industry, but it could still use some changes.