I've seen them on that show "What Not to Wear" just with skirts. I also like them with cardigans, and shrunken jackets, with funky jewelry so it doesn't look too "pwecious."
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"...If I know my supermodels (and according to the half-dozen or so draped across my bed in a jenga of crack-glazed longing, I certainly do)"
I wear mine with menswear style pants, meaning wider leg and straight. I feel too girly if I did a skirt, plus with the high collar on that shirt, it is a little "frumpy" with a knee length a-line skirt (which I almost did). Its the proportion of it that you really need to pay attention to.
I actually bought that exact top last weekend. I think most of the ideas I have for it have been covered, but I tried it on w/ almost everything I own and my faves were:
w/ slouchy menswear style trousers and a blazer for work. i specifically paired it w/ a purple velvet blazer and purple suede pumps. lots of purple, but enough different textures that it wasn't too matchy, especially broken up w/ gray trousers.
w/ a gray skirt for work (this is a fun "secretary" look)
w/ dark jeans and heels for a slightly dressed up going out look
w/ faded really distressed jeans and flats (even converse would work) for more of a rock show look