Hi Nancy,
I have the J. Crew featherweight merino ruffle cardigan in the brilliant blue color, and am thinking of getting it in the ivory or possibly the geranium color. I also love the small ruffle at the neck and the buttons are nice, very good quality. The merino is very light and smooth, so it's soft and has a slight sheen. I haven't found any less expensive versions, which is why I went with the J. Crew cardigan. Boden has a ruffle cardigan that I think is very nice as well, but it has ruffles down the front rather than at the neckline:
http://www.bodenusa.com/col.as.....38;col=COR
I have a jacket from Boden and it's very good quality, similar to J. Crew quality. The Boden cardi also almost the same price, and it's cotton.
As far as sizing, the JC cardi runs true to size, but it is not super fitted. I wouldn't describe it as boxy, but it's fitted around the bust area (at least it is on me) and then comes down and only goes in at the waist a little bit. You can kind of see it on the model in the product photo of the back of the cardi:
http://www.jcrew.com/catalog/p.....=cat302183
I like to wear mine open and buttoned part way, and I think both looks are good. Also, the sleeve aren't super fitted either. The band at the end of the sleeve is more fitted, and the sleeve itself is the tiniest bit blousy. I don't mind that, but just so you know.
I have a lot of clothing from J. Crew and they are amongst my favorite items in my closet. I've never had a problem with their quality at all (unless I buy at their outlet store) and their designs and colors are cute and pretty different from what I see at other stores offering in the same materials. Something to think about, especially with the ruffle cardigan:
Most finely knit sweaters snag on me. They just do, and I've learned to accept it and spend time pulling the snags to the inside of the garment. I'm a student, I'm in a hurry a lot, I'm constantly taking a backpack on and off, etc. If you are similarly hard on clothing and feel that a snag would really upset you given how much you've paid, you might want to avoid the cardi. I'm not saying it will definitely snag (mine hasn't yet) but the more finely knit JC Merino doesn't tend to stand up to tons of abuse and come out completely unscathed. It still does pretty well, though. Also, I have to shave my JC merino sweaters after the first few times I wear them, but then it stops and I don't have to shave them anymore, or very rarely. I think maybe when it's new, it's just fibrous, but then it works those out. It still looks new after I've done this, not threadbare at all. It's just something that happens. I haven't had to shave my ruffle cardigan yet, but I haven't had a chance to wear it except maybe once.
Do you have a J.Crew near where you live? If so, you can go into the store and order on their red phone, and they won't charge you shipping to send it to your house, only the price you would have paid at the store. I use this service all the time, and have even occasionally gotten items immediately that were listed as being backordered on their website.
Hope this helps you make an informed decision. $88 can be a lot of money to spend on a cardigan if you're not used to spending that much, but I'd say it's a similar price to what you'd pay at a similar retailer in terms of quality and selection: Banana Republic, Boden, Ann Taylor, etc.