Ironically, I think Dead-End highlights the problem with a LITERAL Batcostume. That is to say, skintight cloth (which works in comics), looks a bit cheap and flimsy in live action. And I'm not suggesting we go back to rubber.
A middle ground is the best approach, I think. Some padding (to sell the armor aspect), but mostly a fabric-based structure WITH the comic book colorings (grey and black/blue).
Something that looks like it could stop a bullet, but also something he can believably run in. I like the idea of a mesh/interwoven fabric.
Ironically, the Arkham City Collectors edition statue/doll gave us the pretty much perfect texture for a live action Batman. Or should I say, not surprisingly