I saw this fabric a couple of months ago (reading Katie's post about her beautiful dress and top), and within minutes, had a few yards purchased and on their way to me. What I really loved was the print. The gorgeous color combination, the scale, and the pegasuses (pegasi?) all just combined to make me jump to "shut up and take my money!" territory. Similar to how I feel every time a new Nani Iro collection is released...
I bought this just after making the Cat Lady dress, and I was expecting the fabric to be very similar. It's really not. I do love the Cotton and Steel rayon challis, but this rayon has a very different, more expensive feel. It's less slick, not as shiny, and just feels very luxurious against the skin. I think the C&S stuff is probably a bit easier to work with, but the drape of the Pegasus fabric is so worth any pain.
I chose a pattern that's quickly becoming a standby for me - Vogue 1395. I eliminated the back overly by sort of combining the back and back overlay pattern pieces. This was a risk (and required some mid-project cutting to help things line up!), since I hadn't muslined it this way, but I think it paid off. It allowed me to keep the great gathered detail on the back overlay without having to deal with the cape/tie thing.
I just adore this dress. The elastic waist puts it in secret pajama territory, but it still looks very polished. I lined the skirt in black cotton batiste and added bra strap keepers at the shoulder seams. I find making thread chains by hand really relaxing, so I enjoyed that finishing step. I also lengthened the skirt by a few inches so I could feel totally comfortable in this at work.
Overall, I feel like this is exactly the kind of thing that I can't find in stores. Beautiful print, nice detail, in a fine fabric, in my size? This is why I sew.