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Colette, I agree to keep the trench, to my mind the shoulder are little big, but not the trench, that can be seen tied, and the sleeves are a little long. You can solve that to wear untied and just little cut sleeves (rolled up inside and fastened) I did it on my trench that.
I think you are doing the right thing, Keep it for now anyway and wear it as road-testing. If you feel great in it and it dresses up jeans and other casual/smart casual wear, then you're on you're way. If you find you are dissatisfied with this or that aspect, you can then know you would prefer a replacement. I like the color for fun with scarves and accessories, too--pinks and white and florals and such read very fresh and springy--but could also combine with moody blues and browns for autumn.