The shoulder and sleeve measurements are the most important thing on a jacket. I think most of TCB's stuff is unsanforized, but washed so you shouldn't expect much shrinking (ie, the measurements provided should be true to size)

I personally like to sit on big purchases - if the one I want sells out, there'll always be something else in the future. That being said, this is a pretty reasonable price (assuming you're buying direct from them) for this kind of heritage work wear. Jackets/coats tend to be more expensive in this space for one reason or another - it's hard to find this kind of stuff under $200 unless you luck out on a sale somewhere.

You mentioned being afraid of messing up a jacket like this in another comment - that should be relatively hard unless you're wearing it for a labor intensive job. This is a reproduction of old worker clothing, so it'll take wear and tear (and most people like the look when it starts to show its age).

Just make sure you wash it when it's dirty, as this can degrade the fibers in the long run (the common cause of crotch "blow out" in jeans). It's indigo dyed, so I'd run it by itself, inside out, in the washing machine on cold with no spin cycle - shake off the excess water and hang dry it.