I finished my Coraline sweater over Thanksgiving weekend and I'm extremely pleased with the results. I think it was worth all of the ripping and reknitting, as it's now stylistically akin to some of my very favorite sweaters and much more flattering than the original cardigan version.
The rework wasn't an entirely smooth process; I ended up knitting the hem about 3 times before I got it right. I finally settled on a [K1, P2] rib on needles 2 sizes smaller than what I used for the body. I've never used smaller needles for a hem before, but they made a huge difference in terms of fit and crispness of the rib. I don't think I'll ever go back to knitting sweaters with only one needle size.
Overall, I'm glad I was able to find extra yarn to rework this sweater, especially because the sweater now features my favorite 3/4-length sleeves. Still, I need to be more careful in the future about picking flattering styles to begin with. From here on out, I'd like to avoid the guilt of never wearing a handknit sweater and the hassle of reworking said sweater into a better style.