Isbal is not allowed for clothing in general, due to the saying of the Prophet (sallAllaahu `alayhi wa sallam):
ما أسفل من الكعبين من الإزار ففي النار
"What is below the ankles from the Izar is in the Fire." (Al-Bukhari no. 5787)
And in the Hadeeth of Jabir bin Sulaym, the Prophet (sallAllaahu `alayhi wa sallam) said:
إياك وإسبال الإزار فإنها من المخيلة
"Beware of Isbal, for indeed it is done out of conceit." (Abu Dawud no. 4084)
And in what is recorded by Muslim from the Prophet (sallAllaahu `alayhi wa sallam), that he said:
ثلاثة لا يكلمهم الله يوم القيامة ولا ينظر إليهم ولا يزكيهم ولهم عذاب أليم قال فقرأها رسول الله صلى الله عليه وسلم ثلاث مرار قال أبو ذر خابوا وخسروا من هم يا رسول الله قال المسبل والمنان والمنفق سلعته بالحلف الكاذب
"There are three people that Allaah will not speak to on the Day of Judgement, will not look at them, will not purify them; and for them is a painful punishment: one who lets his Izar hang below his ankles, the Mannan with what he gives, and the Munaffiq who does his business with false oaths." (Muslim no. 106)
There is no difference, in this regard, whether one does that out of conceit or not due to the generality of the Hadeeths, and because in most cases Isbal only occurs out of pride and conceit. So even if that is not the objective then doing so leads to pride and arrogance. Additionally it resembles the dress of women, and is harmful to the garment because of the impurities that it may encounter. It involves waste as well.
When one does it out of conceit then his sin is greater due to tin saying of the Prophet (sallAllaahu `alayhi wa sallam):
من جر ثوبه من الخيلاء لم ينظر الله إليه يوم القيامة
"Whoever drags his garment out of conceit, Allaah will not look at him on the Day of Judgement." (Al-Bukhari no. 5784 and Muslim no. 2085)
As for when Abu Bakr As-Siddiq, may Allaah be pleased with him, said: "O Messenger of Allaah! My Izar falls unless I take care (to hold it up)." The Prophet (sallAllaahu `alayhi wa sallam) said to him:
لست ممن يصنعه خيلاء
"You are not one of those who do so out of conceit." (Al-Bukhari no. 5784 and Abu Dawud no. 4085)
This is proof for the one whose case is the same as that of As-Siddiq, so there is no harm on him when he tries to keep it up and doesn't let it fall on purpose.
As for the sleeves, the Sunnah is that they should not extend beyond the wrist and with Allaah is the facilitation to do what is right.