Three things, based in what's bolded:
1) This is good general advice for wearing any kind of odd jacket, and there are indeed plenty of orphans that can pass as sport coats just fine (sometimes with a button swap), but pinstripes will still look bad.
2) There are Canali jackets from the 70s with two buttons and two vents.
3) It was probably frenchy, and he's probably laughing at you.
Given the condition of the jacket I doubt it.
If frenchy is laughing at me, for not flipping it, maybe I should have. But it is too much work for me. Besides I will be leaving Toronto and heading home soon, so my thrifting days are over, until the next time I return to Canada in a couple of years.
Edited by socrates - 4/3/13 at 7:51pm