Reshaping the collar is basically the same as the lapels. Mark off the shape you want, open the stitches, fold, press, trim, restitch. It's a smaller piece, only one layer thick, and therefore much faster going. After the shape is good, pin, trim, and restitch the felt backing.
This jacket's lining is edged in with a thin red ribbon. It adds a nice bit of stying, but it also provides a fixed reference point for both jacket sides. I decided to match the ribbon lines up, pin everything together, and trace the new lapel onto the old one.
Still to come: shortening (and possible narrowing) of the sleeves, hemming of the pants, and I need to find a way to cut almost four inches out of the waist! Given that time is running short, I think the next step should be the pants. I already know how to shorten the sleeves and hem the pant legs, but that waist is going to take some creative thinking to prevent it from looking like crap. Stay tuned for gratuitous shots of my ass, because next time we take on the trousers!