First -
at "pendulous belly"
Yes, ma'am, I'm familiar (and I may just have to steal that perfect description).
A few years ago I stumbled on Lane Bryant undergarments and I love them. They are usually 5 for $30 and some times of the year on clearance they are even cheaper (though sometimes you can only find some of the uglier prints, but that's ok with me!).
I like the hipsters, though I tend to pull them up on the sides so they are more of a high hip thing. I've tried the full panty (too much material), and the hi-cut - those are ok, but harder to find and I prefer the hipster style.
It has been fun to buy a new size in them, but I have to restrain myself from going overboard, as I don't want to be in this size (22/24) for too long - on the other hand, I have to have a good supply of undergarments in reserve. So I am currently 1/2 and 1/2 of the old size and new size.
Now that you know more about me that you ever cared to.....
Good luck!