What's Wrong With This Blouse?

Shall we make a list?!

1. WAAYYY too big.
2. Tie neck is too thick and cumbersome.
3. Sleeves too long by about 6cm.
4. Body too long by about 15cm.
5. Back pieces are too baggy, appear to be several sizes bigger than front pieces.
6. Neck line too low and too wide.

Apart from all that's not quite right with the finished product, I had quite a lot of fun putting this together on Wednesday! I've been mulling it over since then and decided to take another look at this baby this afternoon. So, after taking off the collar and removing the sleeves, here's what I've done to improve it so far:

1. Took shoulder seams in by 5cm. Half the problem I think with looking too low cut and baggy was that the princess seams over the bosoms were just way too low down on my body (rock on with the princess seams, btw. I can tick them off my "can do" list! Woo!). Taking the whole lot up seemed to improve this immensely, as well as being more flattering.
2. Took the whole thing apart, cut off all the excess length and redrafted my pattern accordingly. 
3. Replaced the centre back piece with one two sizes smaller. Not sure if that will help or not, am going to give it a go and see.

I've ironed all the pieces out in their new forms and am going to try putting it all back together again. I feel confident-ish about this, but, you know, this is the practice, the muslin, it's what this part of the process is for! (What, you didn't think I meant to make a blouse in two contrasting 70s prints, did you?!) I'm not sure if I'll stick with the neck tie opening; it seems too bulky. The other option with the pattern is a Peter Pan collar, which I think I will go for and maybe make a detachable bow on a pin that I can add on if I'm feeling the whim. I hope the smaller back piece will help, I might have to resort to a couple of ties sewn in to the back seams to help bring it in. I also need to figure out what to do with the sleeves. Now I've pulled the whole thing up by 5cm, the arm holes seem a little high and I'm not 100% sure, hell, even 40% sure, how to fix that on the pattern so the sleeves themselves still fit in OK. All suggestions gratefully received!

Am off to experiment....