I was apprehensive about sewing this unusual fabric (fuzzy "woollen" embroidered lace on a sheer silk base) for nothing, as it turned out. It behaved very well, even for buttonholes.
All seams are French seams - sewn first pass with a narrow serged seam and the second pass on the sewing machine.
I ended up cutting about 8" off the bottom to make it a standard shirt length. I have worn it as a light topper (today over this version of Vogue 1250). I also made self-fabric tie belt for it, but so far have not actually used it.
I used grey silk organza for the facings as you can see on this inside-out shot. This particular organza is quite stiff so I did not need any interfacing and the entire effect is as light/sheer as possible.
I wonder what my stash will move me to make next?