When I opened the first picture, I fell in LOVE!! Gorgeous, gorgeous, gorgeous!!
And then I saw the coat as a whole, and my love turned to like. I didn't mind the zipper (in fact I LIKE the zipper...a LOT) but like Sylvie, I am not crazy about the way it appears to fit from side and back on the bottom.
The sleeves, I think, are a non-issue. Those can be altered, and if you decide you adore it, then that's what I think you should do.
The fabric and colour look gorgeous on you. It's an amazing piece, and totally "you" - but like Angie, once I got past that first photo I just didn't think K -worthy.
Having said that, I also know that if your love for it remains you will style it and wear it beautifully. And it will be worth every single penny. If you're going to invest in anything in Alaska, make it an amazing coat or boots!!