First off, what type of job is it? I work in a white collar professional world. That said, I am a programmer in IT. For my past two interviews I wore suit and tie and dockers + navy blue oxford shirt + tie respectivly. Both times I was told I was over dressed, but I landed both jobs. I don't meet any customers face to face, so I generally wear shorts + sandals + polo shirt to work but those of us who do deal with our customers (or other parts of the company) do dress up. That includes hose for about one third of the women. I admit to noticing hose, but it doesn't bother me either way. Then again, I look at legs like other men look at chests...
As part of a team of interviewers, I will admit that we have dinged for sloppy dress, but never for something such as hose vrs. no hose. Tie vrs no tie isn't even an issue for us. It all depends on the culture of the company and the particular job you are applying for. In my opinion dressing up shows that you are serious about the job and are a professional. Underdressing can hurt you, overdressing cannot.