This is one of three outfits my stepsister had for Molly along with the "meet" outfit. Hers only came with the sweater, bracelet, and necklace lei. I agree, this is one time Mattel may have gotten things right. The historical and book accuracy is nice, but it's not very practical. My leis are still pretty yellow, but they're stretched and too fragile to use. I intend to make a crepe paper skirt and flower for her so she can wear this for Halloween.
However...either version of this is worth getting just for that red sweater. It may be one of the most versatile pieces of clothing AG ever made. It goes well with many JLY outfits and all the historical girls from Kit onwards. My Molly wore it all winter long.