I did some alterations about a month ago for a stylish girl named Betsy. I have a rule to not do alterations, but her taste is so great, I knew it would be something worth doing!
When it first arrived at my house it had a chokingly high neckline, and long sleeves. She's very tall and athletic, so the shoulders and armholes were too tight and the hem was too short. I completely took off the sleeves, changed the neckline, and made the hem tea length (not awkward ankle length).
(my sewing buddy playing with my retractable tape measure)
It's such a beautiful dress, I'm glad I was able to make it wearable, but keep the vintage feel.