I, like many others, wish I could mod the game, however it seems that moding consoles is not possible. So to say mod it say spend
$800 and the game so that you can mod it with what you want. (please people do not turn this into a computer V console war) What I want you to realize is that modding isn't something that is available to everyone, and this is an aspect that wouldn't be bad. Even those against nudity would not have to take off their underwear or take other people's off. Those over 18 can buy it and those under 18 well probably will get it if their parents allow. Either way it wouldn't have to be invasive at all nor would you see people running naked everywhere. Most likely place to see people in their underwear would be in their homes or at a pub when they lose their shirts gambling.
Not to turn it into a console war, but the arguement that PC is too expensive is nonsense.
You can build a PC with console quality graphics for $400-$500, and if you factor in the fact that (if you have a 360), then you pay for XBL Gold (probably), and if you have an HDTV then your "cheaper console" just got more expensive than a PC. So that is not an argument. It's just ignorance and the lack of actually researching the subject before blindly making claims that create the very console vs PC war you're trying not to start.
EDIT:
As previously mentioned (not by me) underwear is important in keeping your valuables warm. (so you don't lose em) Someone could strip you for any number of reasons, maybe you aren't wearing underwear under your pants! that 1 pound encumbrance you found unnecessary so you got rid of them, or maybe you have a phobia. Any number of ways you can look at it. Even you just meet up with some cruel bandits who's friend you left to die naked in the mountains! So many possibilities especially now in gaming.
What's the use in keeping your valuables warm if your about to die of hypothermia?? If you're really that bothered about RPing a person that likes to let people die naked in the cold then perhaps you should have bought a PC.