something's not quite right

Lately, I've been trying things that don't seem to work.

I've been itching to sew some clothes, so I set out on saturday to sew a Wiksten Tank with sleeves (inspired by Kristina's top).

So I promptly cut the pattern for the Tova Top.  The Tova Top is not the Wiksten Tank.  I realized after cutting the front and back.  Then I walked away.

Then I bought one can of spray paint that lasted me only so long (this turned out ok; more later).

And then Meredith.  Oh my goodness, Meredith.  This sweater has given me more grief than all knitting and sewing mistakes of mine combined.

I started this sweater in fall of 2008.  An 11-color fair isle is not recommended for a first sweater.  I tend to be a little "sink or swim."  I'm sinking.  There have been either 3 or 4 iterations of this sweater over the years as I have pulled it out completely multiple times due to incorrect gauge/poor fit (I do think the shape of the pattern is strange and made adjustments anyways).  After a 2+ year time out, I pulled it out for 2012, and thought I had it figured out.  Well, here it is compared to my nicely-fitting humanoid knockoff. 

My gauge is off by two stitches per four inches (28 instead of 30).  But I also knit down to adjust the waist-shaping, knitting an XS after the initial waist decreases. 

Against my better judgement, I am determined.  But I think I need to do something drastic.  Either I am pulling it out for the final time and adjusting the stitch count drastically according to my own calculations and keeping the gauge that I can't seem to adjust or... do I do something crazy like steeking?!  As scary as steeking sounds, not knitting this a 4th (or 5th) time sounds nice.  So do I just chop off those sides?  I don't know... I know nothing about steeking.

I also have a hat in the works that also is not working how I planned but I might just finish it up anyways.  And one small house project up next that did work for the most part.  I'm one for five so far?...