I've always loved this look, and have been hesitant to try it b/c I've always felt i look a little silly in head to toe black, and I am sensitive about looking like I wear "high waters" - was a tall kid with a pants fit problem growing up :)
I'd like to try this now, but am having a hard time finding the right top. I love this black sweater/tunic...anyone know where to find something similar?
I don't know how much money you're looking to spend, but I would recommend looking at sweaters from Vince. They always have a beautiful drape. If you have a Nordstrom Rack near you, or sometimes they have them online on nordstrom rack, I've found that's a good resource for Vince. The stuff's kinda pricey, but I have to say I get a lot of use out of the (very) few pieces I own.
Otherwise Ann Taylor Loft has some nice drapey tops right now in their "loungewear" section. I really love the drape of some of their tops.