Quote - So let me get this right, I can make the pants conform and I can pick what body part I want to simulate.

Well... yes you can but you are not gonna like the results in most cases.
If you clothify body part which is surrounded by others like chest or abdomen it will be one big "disaster".
This should be used to "loose ends" like sleves or the ending of trousers (don't know english name for that, sorry).