When the royal family hosts a ball at their palace. the princesses dress up in their finest gowns. And this outfit is worthy of a modern princess. Huge and straight out of a fairytale. But still revealing enough to show what a beautiful woman she is.

Quality:
The crown. I would call it a tiara. together with the necklace and the bracelets are complex pieces of jewelry with plenty of gems. I think they are rubys and diamonds. A downside is that it's made of free floating elements. So the jewels aren't made for close ups.
The earrings are made in the sams style as the crown and necklace. But they aren't rigged. So you can't make the big gems swing.
The Dress doesn't move with the legs. With the size of the dress it isn't needed either.
The sleeves (I'm sure there's a more correct word than sleeves) doesn't move natural with the arm. Maybe it can be done with dForce.
And finally there's the panties. There is absolutly nothing special about the panties. They are there to cover what panties has to cover.

Textures:
All parts of the outfit has only one material option. A cool detail is the material for the heels. The jewels has enough material zones so you can change the metal or gems to anything you like. You can even have the left and right bracelet, shoe or earring look different than the other one. I can't remember having seen that before. Unless they are loaded as seperate objects.
I'm not that keen on the textures for the dress. I've never liked flower patterns. neither in reality or in 3D.

Morphs:
In general each part of the outfit except the dress has no morphs but an expand all morph. I can't really come up with a reason why there should be more morphs. To be honest it's only for the earrings they are missed. The dress however has many morphs to pose it to match almost any standing or walking pose you can think of.

Versatility:
I can't come up with a reason why you shouldn't be able to use all parts of the outfit in a mix with other outfits. Of cause it's most obvious to use this outfit or it's items for some kind of wedding, ball, prom or fairytale render. Your creativity must do the rest.

Overall:
Definitely a beautiful outfit. suitable for many modern events like weedings, proms and royal galas. only one material for each item. And only the dress has morphs for movement. With the bare shoulders and upper chest area it's inappropriate for a historic accurate render. Maybe If you can find a suitable bolero or scarf you'll be able to save the day.