Corrid, if you look good, you'll get compliments around here, too. But the general taste on the forum is more sophorific. And also, a lot of what gets mistaken for "SF approved" style is actually advice for beginners, who haven't really developed their own taste yet and who should probably have a small wardrobe in which most things can be worn reasonably well with most of everything else. That's kind of the issue in this thread.
Get notch lapels. It's less flashy and therefore more "versatile." When you're at the wedding you'll look great in notch or peak lapels. But if you have a job interview, the notches are much better than peak.
Peak lapels are great, but maybe not for your first couple of suits. For most men it's good to wear mostly notch lapels.
Brando, I'm guessing you live in the US, so I'm surprised you bought a french cuff shirt and a bowtie. Hardly anyone needs these in their adult life, much less in college. Try to stick to the basics for now. The list of stores in my post above should help. Ralph Lauren comes to mind, as well. Depends on where you live. You don't have to spend a lot on everything, but what I like about that focused list from Put This On is that most everything is so versatile and useful...
Yes, you're probably right about both. It's a list of vanilla basics at different price levels. For a college kid who wants to start dressing better, it's good to be willing to pay more for some nice things, and also know where you can get something inexpensive and nice.