Suit fabric choice is about fall rate adjustment, not freefall style. Choose an appropriate style of suit for the type of jumping you'll be doing, then choose the fabric to help give you a good, average range of fall rates so that you can stay with others in free fall.
For example, if you're a fast faller you would want to present softer, baggier material like polycotton to the relative wind. If you're a slow faller then tighter nylon material would be better.
Have a chat with the suit manufacturers. Sonic, for example, do a cordura tunnel suit which has tons of drag. They will even put double layers of material in arms and/or legs for extra lift. Best thing is to figure out how fast you fall and go from there.
If you freefly, seems as though most of the premium suits you see (i.e. LiquidSky, Vertical, Ouragan) are made from Taslan. From what I understand, it produces more lift than traditional fabrics, so you don't need to wear all that extra material. I can vouch for this since my older Tony Suit (pretty baggy) doesn't have quite as much lift as my Vertical suit (tailored fit).