I've always really liked this outfit and am happy to pull it out each fall. The color palette is very pleasant.
The skirt can be tight for older or plumper dolls like Stella pictured below (she is a PM customized JLY-2). The shirt creases easily so you can end up with a collar crease in an odd place that just won't settle. The knit sweater requires a bit of finagling to get chubby doll arms into over the blouse, and one must be careful with the wrap-around fastening not to tie it too tightly. For those reasons, it is not the most playable outfit for a young girl to work with.
But there are so many great details--e.g. the detachable skirt hem, the decorations on the sweater, the fancy sleeves on the blouse, the fun shoes that pull the star detailing together. The outfit has nice mix and match potential and has held up well over the years. My grade is somewhere in the middle with a B+.
The main pieces come up with some regularity on the secondary market for perhaps a third more than original retail at most, although it's unusual to find it with tights and hair barette.