Absolutely horrendous. I'm constantly reminded why I stopped buying any of the mainstream comic books. The whole "more practical" mentality is complete bollocks.
To paraphrase something I once heard, the more realistic they try to make superheroes, the less believable they become.
The reason Spider-Woman's costume has persisted for so long is because it was perfect. It didn't need modifying. It's a little sad that the vocal minority feminists are dictating the direction of comic books. Most of them don't even read comic books, and they never will. Yet DC and Marvel think they're somehow going to gain readers by appealing to them. On the other hand many female readers (at least based on the ones I know and the various blogs I read) actually enjoy the sexiness of the female superheroes and aren't asking for these costume changes.
Oh well. That's enough of the soap box for me. Fashion is cyclical, and in another decade or so, spandex will be the "new" hot thing for super heroes. (Just take a look at the X-Men when they went through their "realistic" phase.)