Quick review of the P46s. I own the P33s and they serve as a great comparison.
Air vents work as intended. Nice circulation from ass to crotch. Definitely will be my go-to summer pant. If you look closely at the inseam vent open photo, there are actually strips of nylon that unfold and serve to keep the vents open.
I love the relaxed fit. It's a happy medium between a straight fit and parachute pant.
In my opinion, you should go with your regular size. I am 5'-11", 160lbs and I went with my regular size (medium). Much like everyone else, I was worried about the length, but I do think the stacking was intentional. If you look at the left rear quarter photo, there is line of angled stitching on the back of the calf. I think they function to maintain the leg shape. In my experience with other pants of the same baggy fit and thinner fabric, sometimes the leg tends to pinch in the middle making the pants appear like a bootcut fit. This is not the case with the P46s - they retain their full shape at all times.
I've had no issue with the hem dragging. Bulkier shoes do help prevent that (as shown in product shots with the LF1s), but it can even be worn with flatter shoes like Vans Old Skools. One trick is to fold the excess fabric inward, creating a "sleeve" that shortens the length. Due to the nature of the fabric, it actually remains in place quite well. I even tried stomping my legs a couple times and the sleeve did not budge.
I do miss the vertical rear side pockets of the P33 but I guess the air vents are the trade off. In a perfect world, one more pair of pockets would have been nice.
Although these were featured on some of the Japanese retail sites, the close-up photos of the fly are missing from the mothersite. It features a button at the top, snap enclosures, and a heavy duty YKK zipper. I find opening the fly to take a piss a bit cumbersome. The incorporation of the snap enclosures suggest an ease of access but the top button and zipper contradicts this movement. You are forced to unsnap the enclosures one by one just to pull the zipper down.
There is a section of the inseam vent that could be problematic. There is a line of stitching that runs almost perpendicular to the vent zipper that creates a stoppage when unzipping. I worry that this might tear the mesh if one is not careful.
Overall, I very satisfied with the pant. It's a nice departure from the balloon or severely tapered cut as of late. I will upload some pics of the P46 with Vans Old Skools tomorrow.