The Versace Spring 2008 collection, as shown on the Milan runway, is really quite understated and tasteful. I especially like the classic lines of the white dress in the center of the image below. Of course, the whole collection isn't fabulous....
Click on images to enlarge. Donatella's Angels?
Not really feeling the color of this coat in a patent leather. The shape itself is great, however, and would look stupendous in red or basic black.
I'm sure one could re-create these looks with scissors and a couple of heavyweight contractor bags.