I disagree with Lisa about the sleeve length -- this looks perfect to me. But then I tend to prefer my sleeves shorter (probably from a lifetime of always having to alter them due to length). Whereas you are tall and have had the opposite problem! Still, this did not seem to bother you, so I am assuming you feel good about the sleeves.
I think the fit on this jacket is lovely on you overall. I actually see a defined but not overly defined waist here. The shoulders look great.
The real questions are: Is this the style you want, and is it the length you want. And you've already identified those.
I wish I had answers. I have identical questions, as you will see when I post my own suit thread! Well, the length is not an issue for me. But like you I am wondering if this is the right style.
Sveta, you have a gift for styling classic items to they look current and up to date. How about if you try to style this a few different ways? See how you feel, take pictures to see how we feel.
As you have told me numerous times, it is all in the styling. Okay, maybe you exaggerated a little. Not all of it is in the styling (cut is important, too) but styling does make a big difference.
I would try the suit with different tops and footwear and belts. I'd try the pants with different jackets. And try the jacket with different bottoms. If it has very high mix-and-matchability, then maybe it is worth it at the sale price, regardless of whether you would wear it as a suit. The fabric is a nice light weight and virtually wrinkle free. The colour is brilliant for you. These are factors not to be easily dismissed.
Last night, I compared this to some similar suit jackets at J. Crew that were three times the price and this was actually as nice or nicer than those. FWIW.
On the other hand, Hugo Boss, Theory, and other brands might also be worth a look.