a new angora sweater

I bought some angora a few months ago and, since Crichton is reclining until buttons are found, it was finally time to use it up for a sweater. This sweater is going to be kind of tricky, since I bought the yarn on a close-out and there was no yardage listed on the label. It's all Yum Yum brand, and I have 5 balls of the brown and 8 of the blue - I think it will be enough. I get exactly 2 inches out of one ball in the body, and the body is roughly 34 inches around, with the steek.

Here is the beginning of the sweater.

I want it to be fitted and I'm aiming for long sleeves, but I can settle for 3/4 if that's what it comes down to. The body has a deep border in a 2x2 rib where the yarn crosses over in the front every other row, making the rib lie flatter and less elastic. The border reaches to the waist, and then the blue diamond pattern starts. I hope this accentuates the waist instead of just making me look heavy.

I'm making a 7 stitch steek in the back, and will later cut and attach button bands so that it buttons up like a 1950s-era cardigan. I want another deep border on the sleeves, but I'm not sure if I should make it 5.5" like the body's border, or if I should continue it up to match the body's when the arms are lying flat. I think the former idea may be more attractive. I'm always wavering between a rounded neck or a v-neck, and raglan or set-in sleeves.

I hope it turns out pretty. If not, the angora is surprisingly easy to frog, so I can try again. Any ideas or suggestions are welcome. If this is a completely lost cause, I think I will look through Vintage Knits and pick out a pattern from there.