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This is a great sweater as is the PD vest (a great vest, that is).
It is more fragile than other wool sweaters (perhaps too fragile for rough, backpacking use), but very comfortable and warm, IMHO. I am a "wool wimp". Wool drives me crazy. I feel it nearly ALL of the time - even on the move; really drives me crazy. Merino is diff., IME. I could wear this sweater with nothing underneath.
This sweater, for me at least, epitomizes all, or nearly all, of Vlad's positive comments on wool - cf., his voluminous writings on wool's virtues to be found in other Threads. I can add nothing to his praise of wool (it's amazing what Vlad Putin learned during his tenure heading up the KGB!).
The elbows will perhaps wear out quicker than you might like, as will the shoulders (elbows wearing faster on mine). While it will add more weight, when the elbows do wear out on my sweater, i will have someone sew on suede leather patches on the elbows. I wouldn't discard this sweater, it is already well on its way to becoming an old friend. I've been thinking of having it professionally modified with a partial length zip for improved ventilation purposes, thereby extending it's useful range (really to vent after an ascent) - it's already easy enough to don and doff w/o a zip.