I think this is acceptable as long as we aren't trying to make anything formal out of it. I have a suit much like that from years ago and were I to wear it now I suppose it would just be with a black turtleneck. If you have but the coat, you might wear black or grey trousers. The pockets look a bit odd. Are there flaps there that are turned under? If so, I'd bring them back out. If not, perhaps the pocket openings need to be stitched closed so as not to look overly used. Could you wear it to a wedding? Unfortunately, I'm sure you could to most and not look out of place compared to the way many dress for weddings these days...