Kind of a no-win here. The Superman outfit looks goofy if worn in real life, but if they changed it the diehard fans would be flipping out. It looks ok, although I think the S should be bigger. In the end, it's still a guy who wears red panties over his tights.
After reading through the Death & Return of Superman comics recently, I keep thinking the costume of the Eradicator would have worked quite well here. If they jazzed up Batman's uniform in the movies, why not Supermans?
There's something disturbing about using Ike in THIS kind of plot. It reeks of something used solely for shock value. Either that or they were shooting to make it SO over-the-top that it came all the way back around to being funny.