Finally, leggings with a true waistline!  Just what I wanted and could not find at local stores.  A bit thin if you want to wear with just a top.  I pair these with Anne Klein Microfiber footless tights to add warmth and smooth out the lines.  Size M/L is ankle length on my 5'4" medium build.  Obviously would be more capri length on taller gals.  I'm buying several pairs.  Are leggings the new sweats?  So comfy but can still look classy if you do it right.
Update:  Ordered more about a year later (9/2011).  Sadly, the M/L is now huge!  The waist band seems fit for a maternity pant and has a big gap.  Seems you can't rely on products staying the same as they keep moving manufacturing to cheaper and cheaper labor forces in different countries.  Very disappointed and downgrading my star rating to 2.