I'm going to have to go with Billy Walsh from Entourage: Suits Suck! Well, right after the cubicle it's the worst part of being in business. Yet, you have to wear one to impress a recruiter regardless of how intelligent you are or what skills and experiences you have that make you the most capable candidate.
Almost every time, the person who has the nicely groomed "straight shooter" look wearing a nicely pressed suit will set the bar high for every other candidate simply because of the first impression. Unfortunately, like with many other things in life, recruiters eat up that first image of a college student or recent graduate who cares enough to present themselves in a "professional" manner.
What is being professional? It varies from company to company. If you work at Google, being professional means working as much as possible on coding cutting-edge applications whether you showered and changed out of your pajamas or not. At Accenture, Deloitte, or any other large consulting firm being professional involves wearing suits or ties every day, and being in client facing situations and on the road most of the time.
You need to find a nice mix of being you and being professional. I would love to see someone pull a "Peter" (Office Space, post hypnosis), and roll into an interview with one of the big four consulting firms wearing flip-flops, jeans, and an un-tucked shirt. Not only walk in, but walk out whenever they feel like the interview is over.
I don't recommend dressing down and attempting a "Peter" if you have an interview with a suit-loving business. Face it, most first jobs are going to involve at least business casual dress attire. However, there is the growing trend of companies outside of silicon valley allowing their employees to wear whatever they want in an effort to foster a more comfortable work environment and more hip culture. Whatever type of company you end up interviewing with and possibly working for just be aware that professionalism is defined differently within different companies, and even within teams or divisions within companies. You just need to match or surpass that level of professionalism, whatever it may be.
