This is the second completely unique outfit that AG has offered as a purchase-with-purchase (PWP) special through the stores. It became available in early November 2008.
I agree completely that this outfit needs some thin tights to finish the 'look'. The fabrics are definitely thinner than other outfits, but all in all, I guess we're getting what we're paying for. I still like the outfit a lot, and taking into consideration its cost relative to quality I'd also give it an A- grade.
I did not think to take a photo of it, but the jumper portion looks quite pretty without the turtleneck as a fancy sundress. Adding a couple more photos: