B.R.
Baptised both my boys in gray dress pants and button up shirts. One had a sweater vest and the other wore a tie. They looked adorable, but neither my husband nor myself were really emotionally attached to the white tradition. I couldn't see spending that much either, unless you think you can mix and match pieces with other clothes to make other dress outfits (don't know if that would really work or not!).
Happy baptism to the little guy:)