Well, we all agree on the main fit issue from the front. But your point makes a lot of sense.
Not if Elio is right about the tightness in the chest (I assume you mean the lapel bowing). Elio's explanation seems very plausible.
It might be that the waist is too suppressed and the chest too tight.
I was thinking that having the buttoning point a little lower would allow it to drape better and allow for a larger chest to be cut and allow for a more natural taper for the waist suppression.
Are you talking about having a different jacket cut?
On the current jacket, if the chest is too tight, changing the button point won't fix anything. If you mean having a different jacket cut, then it seems to me (but I'm not a tailor!) that the chest and waist are separate issues, i.e. you can cut within reason a chest of a certain size with different waist sizes (think of women's clothes where chest size is much more variable).
I think the waist is overly supressed on the jacket at issue (i.e. look at the line on the side from armhole to waist). This is a matter of taste (see Suit Supply), but secondary to issues of fit here which are not matters of taste but of proper tailoring (IMO).
But as others have said, jfrater's fit isn't a bad base line for beginning. I'd just like to see him in his best fitting coat. That's a better baseline for him.