The shirt's body and sleeves should be taken in. Obviously the trousers needs to be shorten as you've already acknowledged, but also needs the back rise fixed such that the "bags" behind your thighs disappear. I do not like the dimples in the jacket's shoulder-sleeve area, so I would have that taken care of as well. The buttoning point seems rather spot on though, as well as the general cut; it does give off a good conservative vibe.
6/19/10 at 3:48pm