I got this dress for my birthday so I thought I'd add my two cents as a colonial reenactor. The length was okay for me since gowns did not tend to be floorlength at that time. I actually think Elizabeth's gowns make her look very cute and French. (French fashions of the time were shorter than other styles, sometimes reaching to the mid-calf.) The choker is adorable andd oh so correct.
The shoes suck. They are not accurate and not sensible either. You can barely get them on her feet. I ended up using my mother's Felicity's meet shoes for the dress. It looks much nicer that way. The headband (despite being period correct unlike the shoes) took me thirty minutes to put on and I was so afraid I was going to muss up her hair. (I am very ocd about doll hair.) If it weren't for the shoes and headband the outfit would be perfect.
Oy the hat. It would probably cause an uproar if they changed it now but it is totally inaccurate. Hats of the time had the ribbons attached under the brim. Actually if you look at the catalogue that Elizabeth's spring dress makes its debut in there is a photo of a girl holding Elizabeth in her new gown with a prototype hat that has the ribbons attached to the top.
Colonial Williamsburg was still making hats like that though when Felicity was introduced so I guess they can be forgiven.
The only reason I can see that this is inaccurate is the eyelet (at least I think it's eyelet) on the sleeves and neckline. Eyelet lace was not around back then. Shift dresses were getting more and more popular at that time and by the 1780s they were being worn by women of all ages. Lissie would have been wearing them all the time in her teens. A linen dress would have been more feasible for Felicity since linen was cheaper than cotten, a luxury fabric, but I guess it would work well for Elizabeth.