Here are some more interim results on virtual dressmaking. They are pretty ugly results, at least from a fashion perspective, but they illustrate the techniques I've been experimenting with so far.
There are still a lot of issues to iron out (yep, a pun). The yellow dress below was meant for someone less busty than the model I put it on. I like the way the physics worked on the hem though.
All the jewelry here are just simple torus meshes run with the cloth physics and high stiffness and damping parameters. The bracelets are like very thick rubber. The necklace stretches itself out and then lays flat on the blouse. I did try to use some of the other physics simulator options (rigid body, soft body) but I couldn't get the parameters right and the meshes were not behaving the way I wanted. Whatever works though...