One of my pet peeves is seeing guys trying to wear pants two or three sizes too small by pushing them down below the front-loader they're hauling around. If you're a fat, you're a fat and wearing the same size pants you wore in high school is not going to change it any more than a comb over is going to hide the fact that you're really bald. Here's the best advice I've seen regarding pleats versus no pleats:
Is it appropriate for a man a little wide in the waist to wear pants without pleats?
Dear Victim,
Absolutely. As a matter of fact, thick-waisted and pear-shaped men should consider gravitating toward unpleated pants as a rule. Pleats, meant to lie flat, tend to fill up with whatever excess there happens to be. This can lead to a fluted effect; like an upside-down champagne glass. Pants without pleats don't have that tendency, so the fit of them appears neater.
Whichever your option, assure a correct fit by sizing the trousers to your waist measurement, rather than your hip size. Whether pleated or flat-fronted, trousers ought to be worn at the waist, just below your navel, and occasionally about your ankles.
http://www.instinctmag.com/issues/010298/article3.htm