I think the snugger the fit, the better, as long as you don't get the leg version of muffin top. Mine stick out about a centimeter, which isn't too bad. I think that's pretty much the limit for me though.
Marianne, I actually got a pair of LC's that fit, but I cannot for the life of me find them online anywhere. The style is "Laren." Googling yields not a single result. I found them at Lord and Taylor, but they're not listed there either. This was last year so they're probably just not available anymore. I had to try on several pairs, and be disappointed many times before I found them though. They still weren't ideal (I had wanted brown boots with some kind of buckle or embellishment), but at that point I knew I couldn't be too picky.
The other boots I got are from Boden. Both of them stick out a little bit, but not enough to be noticeable. Here are the LC ones:
http://img.photobucket.com/alb.....G_0992.jpg
So you can see they're not snug against my calf, but they're not so big that it looks funny. They look kind of weird against my bare leg, but they're not the kind of boots I would wear with skirts anyway. I'll try and take a picture of the Boden ones, which I do wear with skirts, sometime this week when I go shopping in my closet.