I just finished mine!
I used Sugar'n Cream yarn on a cone, because I can't afford to spend $80 on yarn. I couldn't get it to knit exactly to gauge (a size 9 needle was too tight, size 10 too big). I went with the smaller size because the picture in the magazine seemed to have kind of a shapeless fit. It came out great, and looks great on my sister. I added a row of single crochet around the neckline (also around the hole for the surplice wrap), which made a huge difference in how "finished" it looked. Anyway, I made this sweater for only $12! (Please note that it hasn't been washed or blocked yet--right off the needles--so I'm sure the neck & ruffle trim will lie a little flatter.)