Just to be different – I wear nike combat pro undershorts under my cycling shorts. I previously used to wear nothing. As they are tight and lycra they don’t rub and wick sweat away from skin.
I actually got the compression underwear for running and other sport where I didn’t want my tackle flapping about, but tried them under my cycling shorts and they are fine – plus my, more expensive cycling shorts get less, ahem, directly, err, bodily contact.
I’ve never had to use Chamois cream – so that isn’t an issue for me.
I know I fail the cyclist test wearing any form of undershort, sorry.