I've more or less given up on the yellow alpaca Gathered Pullover. I've finished the front, back, and started a sleeve. (I'm doing the opposite of every knitter alive: I've modified an in-the-round pattern to be knit flat.) I didn't do a gauge swatch, but I've blocked the front, and it looks to be pretty close. And I do really like that cable.
There's no waist shaping; there's no shaping at all except for the cable pulling in. The problem with this is that it's pulling in at the bust! So the whole thing is sort of smock/empire/afghan/tent shaped. I don't look good in this shape of garment. I always look pregnant. (I once scared my mother half to death by wearing a dress with an empire waist.) I tried to add waist shaping, but it just doesn't look right. Plus, I've just sort of fallen out of love with the pattern.
I haven't totally given up on it, but it's going into hibernation. This is the 2.5th incarnation for this yarn. It was a close-fitting round-yoked raglan which I actually wore a few times, then it was the 3/4 finished raglan that I couldn't figure out the sleeves for, and now it's this 3/4 finished Gathered Pullover. Eh. Maybe I should give up on this yarn.