Looks great. Sure, it's a lightweight jacket, and the vest has no back. But then you only paid $35 for it, right? Wearing that getup you can go to formal occasions and fit right in without spending a fortune.
It' s not as nice as dropping $300 on a Prince charlie and a full-back vest, but nobody is going to care....only you know, and considering how many times you'll likely wear it, it's a good deal.
The jacket is light but I find it can be worn year round and remain comfortable. Mine can be seen in the pics gallery, trimmed as you have suggested with buttons and epaulettes. It is definitely an affordable alternative to a wool jacket.
Bookmarks