Taking the time to baste the dress together was definitely the right thing to do. I now have an idea of how the pattern fits in a knit.
It's too big. Plus, I see that my attempt at lowering the scooped neckline appears to have made it a curved v-neck. The bust and back fit very well, so I think taking bigger seam allowances in a few places should make it work.
I picked apart all of the basting and began sewing the skirt side seams. Unfortunately I think I took off too much width on the side. Instead, I should have balanced the amount removed between the side and front/back princess seams. Oops. Hopefully this won't turn out to be another wadder. If it does, I'll try to salvage as much as possible and start over.
What should I do about the neckline and armholes? My two options are (1) to bind and (2) fold under and coverstitch. If I bind the neckline and armholes in black, will that make the dress to sporty? If I coverstitch the neckline and armholes, will the topstitching make it look sporty as well? I'd make sure the thread coordinates with the fabric.
Hmm...now I'm wondering if I should attempt to color-block the shoulder/neckline area. Yeesh. I need to decide something soon. The events are three weeks away and I haven't even started on the other dress!