Off went the excess length. While I was at it, I decided I would prefer not to have a ribbed cuff. I decided on an I-cord bind off -- I thought it might look more coat-like. Plus, the wavy edges bordering the hexagons looked a bit like I-cord, so...
There was a lot of fabric hanging from the shoulders, so I decided to try to keep them from stretching out by hand sewing some seam tape along the shoulder seam. I couldn't find an exact color match to my yarn, but luckily it doesn't show at all from the right side.
Then, to provide a little more balance to the shoulder area ( I have narrow shoulders) I knit some shoulder pads from instructions in Vogue Knitting - the Ultimate Knitting Book.
Now, instead of being relegated to the dark corners of my closet, I have a sweater coat that fits better, and one that I'll be happy to wear. Well, just as soon as I figure out how best to belt it.