The shirt looks good, widening the bottom can't hurt but probably won't matter since it'll be tucked. Could consider decreasing arm hole size; how do they feel?
I'd focus on the pants. 1/4 of an inch is within the variance of cutting and shrinking, so I probably won't expect fit changes on that scale. Instead, I would considerably shorten the length to at least make sure the back is not breaking, and ask Luxire for help with the seat. After a couple iterations you should be able to remove most of the wrinkles just below your seat, especially with wool.