I am 5'7" 163 lbs. and I usually buy...
I am 5'7" 163 lbs. and I usually buy quiksilver longsleeve button down shirts in size large except they're slim fit and after I dry them they fit perfect. I'm wondering if the same would go for a large in regular or standard fit like this shirt. . .or should I get a medium?
I think a medium will work for you. They fit me ok and I'm 180lb and have a long torso.(I also hang dry) If you want a baggier fit, go large.
My only concern with getting a large would be the length of the sleeves, with you only being 5'7" you're going to end up with a lot of extra material around your wrist, might look kinda sloppy. It's not a dress shirt, by any means, so you might be able to pull it off. I'm 5'10" but only 145lbs, and a small is a great fit around my chest and waist, it just leaves more to desire on the sleeve length for me. something to consider.