WAYWRN: MC Casual Style - Page 1014
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I was about to joke that it'd look good if you were in Australia and wearing a P. Johnson suit, but then I clicked your link and realized you satisfied both requirements! Ha.
I agree with @Stiva that toning down the formality of the rest of the fit would make the sneakers work well. Lose the tie, try an odd jacket and trousers, or try a polo shirt under the jacket instead of the shirt and tie.
My guess is 80-20 wool cashmere (wouldn't it be so cool if I was right!?).
Also, Europrep, I definitely dig the gray jacket and navy pants combo you posted. I'm generally not a fan, but I think it works after being taken out of the strict CM context (done by removing the tie from the equation).
re: gray sportcoat, thanks Clags
The Mario sportcoat wears almost like a thick flannel shirt. Very comfortable and although very trim to the body, it was extremely comfortable wearing throughout the day.
edit: FYI...I own two blue Mazz shirts in case anyone was thinking I had bad laundry habits.
Fit looks great! Throw a scarf or or something in and you'd get my vote in a MC cozychallenge.