I've seen pics of the suit (sans boots) online. (One just sold at auction - true, it was a stunt suit for flying.) It definitely cut off at the ankles. There was no foot covering on that suit - so he would have needed to wear socks with it.
Now, I can't remember if we ever fully saw the suit without Clark in it on the show. I checked screencaps of episodes I remember the suits shown while not on Clark (ASU, PVLL, DTOSC) but can't find any that show the legs down to wear the feet would be.
