The suit in Man of Steel, it is even better than the one in BvS.
It changed all of the things I did not like about the older Superman suits:
The trunks. They are an outdated reference to strongmen and bodybuilders. This is not the 1930s anymore and everyone born in the past 50 years, deep down, thinks they look silly. Zero chance any of you would wear trunks over your pants out in public unless you were specifically dressing up as a superhero/cosplay.
The only time I liked the trunks was on Worlds of War Superman when they were literally all he had:
They genuinely look badass here. Like a spartan from 300.
The S shield looks too much like it is of earth origin. It's origin has coalesced, in most continuities, to being a symbol from krypton. The fact that it looks so much like an english letter S was too much for me to suspend my disbelief. The glyph in Man of Steel is different enough, that it looks alien while still looking like an S. Especially with the lore that the symbol on the suit is just a simplified version of the actual glyph (on the right):
The cape was too short. When it comes in at like knee level it looks like a kid that tied a towel around their neck. Despite the cape being an iconic and enduring part of the suit it never looked as cool as Batman's or Piccolo's, for example. The way Cavill's cape just barely skirts the ground as he walks...
...and blows in the breeze...
...is just


The cape attachment is perfect as well.
He does not just tuck it into the top and the pleats are, as the kids say, peak.
No yellow S shield on the back either. I never saw the point of that.
I did not have a problem with the fabric looking like skintight polyester in most depictions but I like the material the MoS suit is made from. It helps reinforce the "alien" origin.
The only thing I did not like about the MoS suit was the oval "buckle." The rectangular one from BvS onward looks better. They also made the corset lines less aggressive and pronounced, which was an improvement.
But, they made the S shield overall smaller and put that line of kryptonian words through the middle of. I did not like that. There is writing on other seams in the suit like around the deltoid area.
If the Man of Steel suit had the BvS suit's corset lines and buckle then...