It's definitely the right size. I had a 34 and a 35 Z-suit with almost exactly the same measurements (thighs a little bigger). The 35 took two guys to get me into it so I sold the 34 - big mistake.
By the time my first comp came around I was swimming in the 35 and wished I'd hardened up and squeezed into the 34 even if it meant lacerating my thighs with the hems.
I did my next comp in the 35 at 215lb and everyone thought I was competing raw.
They loosen up a lot.