On the formality note (sorry to hijack your thread, but I think that the info this discussion gives will help), I think that the fedora is a rather casual style. In my opinion the most dressed up one should be with a fedora is with a business suit, and I think that it lives best with either odd jackets, or work shirts. That said, I have seen some very sharp fedoras around here, so I do not want to sound like I really know what I am talking about. That is just the way I tend to see it.