Cracks me up to see guys discussing fabrics for clothes. Chris, have you ever seen anything like it?
I have multiple pairs of both kinds of shorts. The performance shorts are totally bulletproof in that you wash them, dry them, and BOOM... ready to go. Chambray is first off, a much more soft fabric to the hand. Very nice fabric and a more luxury feel. Washing them requires a bit more care, since they will wrinkle if not removed PROMPTLY. I usually air dry them to avoid the wrinkles.
From a fit standpoint, they both fit me the same without question. So pick away for fun colors of chambray or go with the solid traditional performance colors. You will look like a player!