My alterations To Do List (in no particular order):- lower bust point
- increase waist circumference slightly
- shorten bodice above waist by about .5"
- shorten sleeves (get rid of ridiculous pointy cuff objects)
- further reduce length at CF by folding a horizontal wedge from nothing at armscye to approx .5" at leading edge of lapels
- lengthen peplum by about 1"
- reduce overall size of collar and lapels
It's looking better already, even though I've only pinned out some of my planned changes.
In other news, thank you so much for your input on my next knitting project. I tallied the votes and swatched away with my chosen yarn and realized that it was too thick for both of the leading candidates!
So I changed gears. I am now making this. It's Ratana by Carol Feller. I plan for mine to have more of an overlap so I won't have to clutch it to myself, as the model is doing. 
This pattern calls for aran weight yarn, which is what I have. The other patterns call for worsted weight, which is a smidge lighter.
Here's an in-progress shot of the back and right sleeve. After I wash the oil out of the yarn, it will be a lot fluffier. The lace pattern is not exactly a relaxing knit, but the rows add up fast enough. 
