Elvis - I can't believe someone else thinks that too. I once said this to a woman and I thought she was going to propose marriage she was so delighted. I do love that bit of cellulite at the tops of the thighs, it's very sexy. But returning to the main question - clothed can be a lot sexier than naked, and for me it doesn't necessarily have to be "sexily" clothed in the conventional sense - depending on who the woman is, T-shirt and combats can be incredibly sexy.
I definitely think a woman in just bra & panties is sexier than completely naked.