I, too, love the neckline! I'm making a sweater (The Somewhat Cowl) whose neckline is cut somewhat similarly, except the rib edging will be folded over and sewn down.
I have to agree with you on fair isle: it's nice, but I don't aspire to make too many things with it. Although, now that I've just tried intarsia (on knitty's Anouk pattern), I definitely prefer fair isle. With intarsia, the gazillion bobbins, the infinite tails to weave in, and the unevenness of the stitches that need to be fixed afterwards made me go super batty! ...and all I did was make two little pockets for a baby dress. Solid color projects are definitely the way to go!