From Molly Ringwald to Capecho

One of my resolutionary* revolutions (at least, knit-wise) is to overcome the attachment I have infused into all (most) of my knits and take the big step. The plunge-into-abyss.
I've decided that a knit-never-worn is a knit-no-good.
The Molly Ringwald I made last year is one of these, and the first candidate on the chopping block.
I never wore it because I thought it was a combination of incongruous yarn for a sleeveless project, and the yarn itself seemed to stretch out and have nubbly, handspun-esque bits which created an undesirable shape around me.
Yarn: a lovely soft pink Noro Cash Iroha

Here you see it before (it didn't expand so much until I'd worn it a number of times):


and now here you see it's guts, it twisted, mutilated guts:


This will, with any luck, be its after:


I do realize that the yarn weights are rather different. I haven't done the math yet, but what with all the comments I've read proclaiming this pattern to (and I'm condensing what seems to be a general sentiment here) "come out large, floppy and not at all like the lovely (and probably clipped-in-the-back) version on the cover", I think a smaller gauge is more likely to lead me down a road of knit-happiness, and not to yet another knit-never-worn.

**Edited to add** Deception masquerading as a mistake? Here's a quote from the pattern corrections on Vogue's site:
This garment is not close-fitting; it was incorrectly described in the copy on page 105. The sleeve is the only close-fitting part of this garment.
Incorrectly described?
More like incorrectly photographed.

*again, don't look up the word, I manufacture them meself