What IS the Appropriate Attire for an Interview?

In the old days of “Dress For Success,” the three piece suit for men and the dress suit for women were the recommended uniforms for attending that all-important first interview. Times have surely changed and company dress codes have been loosened for so long that there doesn’t appear to be as much focus on dress as there once was. What’s your opinion?

When dressing for your first interview, what would you wear? As an interviewer, what would you like to see an interviewee wear? Does it make a large difference based on the job you/they are applying for (i.e. IT Manager, Graphics Designer, Web Developer, Technical Support Analyst, Help Desk)? Does it still matter?