My initial reaction to Kirsten Dunst (at the New York premiere of All Good Things) in this Valentino lace concoction was, “Holy shit that Valentino dress is beautiful. It’s so ladylike and delicate and lovely. And she brushed her hair! Look at her hair, it’s so brushed!”

But the devil is in the details.

First I noticed those little flounced sleeves, which I disliked (on the runway, too) (below), but could totally live with…

…If it wasn’t for that dowdy undershirt. It looks like Dunst stopped by an Express before the premier and grabbed one of those $19 built-in bra spaghetti strap tanks, which she proceeded to top off with… a goddamn Valentino.

And with such a delicate, pretty dress, those tights really weight it down.

Moreover, I still can’t handle open-toed strappy shoes with tights, but I admit, that’s a personal problem.

So, yeah, I mostly love this Valentino. But…

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And just for kicks, here it is on the Spring 2011 RTW runway:

[Dunst photo via the Telegraph, Valentino runway photo via]