Should I try to save this dress or just toss it?

[fallingpegasus.livejournal.com]

So I have this hime style OP I bought years ago on Ebay. (I know, I know...) It was my first "lolita" dress, before I knew very much about the fashion, and I only wore it once for a Christmas party before storing it and eventually discovering that Ebay was not the place to buy nice loli dresses.

Anyhow, I was going to get rid of it, but I wanted to ask for advice on whether it can possibly be turned into something useable and something that won't get me stared at in the "ohgodwtfisshewearing" kind of way.

Here are two photos, and please excuse my lack of socks and matching shoes - I wasn't trying to be fancy here:
http://www.flickr.com/photos/75666069@N07/7772304574/
http://www.flickr.com/photos/75666069@N07/7772322244/

Now, you guys may have different opinions (and that's why I'm here) but I'm not all that picky, and I don't think the dress itself is THAT bad. Here's my rundown:

The good:
-It is pretty well constructed for being from Ebay and for the price I paid (70 something with shipping.) The seams and edges are nice and finished and there are no loose/hanging threads around.
-The material is a sturdy, medium-weight cotton. It's pretty comfortable.

The bad:
-I dislike the large bow that's situated on the top of the bodice since I think it looks too much with the large bow that already sits at the waist. I would probably remove one of them.

The ugly:
-Dat lace. DAT LACE.


So, do you think it's worth going through the effort of replacing the lace, or should I just get rid of it? I wouldn't be heartbroken if it's not really salvageable in the end.