Here's what I've done with my Toys Indy... Weathered the jacket, removed the zipper (way out of scale) and did the water treatment thing to get the sleeves how I wanted them. Weathered the hat, shirt and pants, put on new, much narrower bag strap, new whip, and put the whole thing on a Dragon body because Toys articulation sucked. Smutzed around with the face a bit too.
But I think the jacket still looks too bulky. There is a guy who sells custom Indy's on ebay sometimes, and his jackets are made out of waxed cotton. His jackets look perfect. Exactly the right weight, not too bulky, lots of wrinkles in the right place, and perfect weathering. I'd take something like that over real leather any day.