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I've completed fad-classic and I'm very happy with it. The yarn is Cascade pima/silk, and I used about 5.2 skeins. I knitted the 34" size but used a tighter gauge, so there is some negative ease. I used 4 rounds of waist decreases and 3 rounds of increases. I started the decreases about 3" from the armhole.
Since we're on the topic of clothes, the white t-shirt is one of the best layering t-shirts I've ever purchased. It's only $12.50 each if you buy 2 or more from the Gap. It's the essential-T, and it's very light, soft, has a wider-than-crew neckline, and is cotton with 8% spandex for great stretchiness.