Edited: It took about 10 more episodes of Y&R to rip and reknit the button bands. I made them twice as wide, binding off on the 25th row, and used the rib and cable pattern instead of plain rib. That's why I'm editing this entry to put up new pictures. I'm leaving most of the other info about my version.
Modifications included longer sleeves (nearly 8" longer) and slightly longer cuffs (33 rows), longer body (by an inch, 1/2" above the cables, 1/2" in the cables) and the wider bands. The extra width in the bands improved the fit not only in the waist, but also in the collar and sleeves caps. Actually, I think the cabling had a lot to do with the collar and sleeves cap fitting better around my neck and shoulders.
I noticed that in the original version, the narrower bands closely followed the shape of the bodice, producing a noticeable "point" where the increases stop and looking funny when the sweater isn't buttoned. The wider cabled bands help even out that curve and make the sweater hang better unbuttoned--
I used Lonesome Stone handyed yarn, alpaca/wool blend; size 6 and 7 needles. I got gauge. More pictures here.
Although I'm happier with the looser fit, I still like the original version too. The deep v-neck is kinda snazzy, (see the photo below).
I wore this sweater several times already, and I really like it. It's warm, comfortable, and flattering.
I'm thinking about knitting it again. It was a fun knit. Thanks for K'ing a Long.