Race Face FR here as well. I did have Fox Launch, they got sent back due to a strap being ripped - or a thread ripped or caught by the velcro and then the strap started disintegrating. Anyway they had a tendency to rub above the knees, but they were slimmer looking and cooler than the Race Face, certainly not as comfy feeling though - the Race Face are more comfy even for just walking around.
As already mentioned Race Face FR are bulkier looking and hotter than the launches, but in my opinion still better if you do a fair bit of pedalling - if not well take your pick.
Anyway I widened the foam around the holes of the inside of my Race Face FR for more ventillation - it can be done without the foam holes enlarging themselves any further. I actually half expected to have destroyed them by trying this, but was pleasantly surprised at the quality. And no I did not alter the outer plastic shell.