I'm on a master's swim team and am at the pool almost every morning. Everyone (regardless of age or body size) wears a speedo-sytle suit.
I like the suites with lyrca better because there is some smashing down - kind of like wearing a jock. I usually buy them just a bit bigger than my wist size. I feel a little less obvious. The problem is that the lycra breaks down pretty quickly and looses it's elasticity if you don't take good care of them.
100% nylon suits can be on the baggy side. Without some lycra to hold you in place, regardless of the size of your penis, it's shape is on full view for everyone. They are also way too clingy. As you lift yourself out of the pool, the nylon will wrap itself aournd your penis and find its way up the crack of your ass. You will be picking and tugging.
I usually wear two suits - one over the other. As they get older and thinner you can get some extra mileage out of them.
But, if you're looking to show off a bit, go for the 100% nylon. Also, if you're feeling a bit daring (and there aren't a lot of kids aournd) grab a white or light-colored suit and cut the liner panel out of the front. You WILL get plenty of attention.
But, most important, have fun.