I have both types of clothing as well. I tend to prefer leather, maybe because it is more "traditional" and I like the way it looks and feels. I have a cheapo Interstate leather jacket, and a much more expensive Schott one that is my favorite. I lost 30 pounds in the past year, so I recently traded my old Schott jacket to someone who had GAINED weight and ended up with a different Schott model. I also have custom-fitted chaps and several pairs of gloves.
Leather, of course, is not great for hot weather riding. So I have two textile jackets, a TourMaster Sonoma Air and an Olympia Airglide. The TourMaster is hi-viz yellow--I thought it was a good idea for safety but I just feel silly wearing it. The Olympia is silver and black and I like its look much better; it also seems easier to fasten and to change between layers. Unfortunately both of those are now too large for me. I didn't want to spend a lot on new jackets before I knew what size I would eventually end up after losing the weight, so last summer I bought an inexpensive Bilt black mesh jacket from Cycle Gear that works fine.
I will leave the discussion of footwear to another thread.