Cycling: "Baggy or Lycra?" is like 29er or 26 inch - There are riders who don't want to ride anything but the small wheels, others act as if there is nothing else but the wheel giants. Cross-country riders with shorts are usually smiled at a bit because they couldn't really hold their own against the Lycra bibs. Apparently there is a very good reason for this: the time saving. The question has often been raised as to whether shorts would have a real disadvantage. Now comes the answer from the Specialized Aero experts: YES.
In fact, they've found that shorts have a downside, as they pick up a lot more wind, so there's a loss of time.