Repurposing a wedding dress

Since I'm crazy and have to take on a thousand projects at once, I decided to finally get started on my first bridal gown reconstruction. I bought this gown for about $15 at a local thrift store that was closing in downtown Augusta. It has absolutely no signs of wear and tear, and I don't think it was ever even worn. An amazing thrift store find.

But. I'm having a little trouble figuring out what exactly I want to do to this dress. 

The negative attributes of this gown: 

• It's too long.
• The sleeves are too long, out of date.
• The waistline is too low, very 80s.
• There is no bustle. 

The very positive sides of this gown:

• It is like new. But vintage of course.
• All the pearl beading is perfectly in tact.
• The deep V in the back. Very sexy and feminine.
• A lot of potential in the long train, a very unique bustle could be sewn.
• The sleeves are unique, not many gowns made today have sleeves.
• It's a beautiful ivory color, bright white gowns are an eye sore!

I will most likely do the following in this reconstruction:

• Raise the waistline to the natural waist, keeping all the pleats and "V" in the front.
• Make the gown knee length but fade into the train's full length. Fun and sassy for an outdoor spring/summer wedding.
• Shorten the sleeves. Maybe 3/4 or short. I hate cap sleeves!
• Keep the train but bustle it in a way that it compliments the gown. 

Any ideas or suggestions? I'd love to hear from you all and what you think would make this gown fresh and fashionable again.