I love the fit of MH jackets and this one is no exception. I'm 6ft 205 lbs and this jacket fits well and isn't too loose. The arms are the perfect length while the jacket sits right at my waist. In fact I like this coat so much I bought another. Definitely go for color if you can as I love the sage as well as the red.
Update 1/10/12-I ordered this jacket in the red XL and came to realize that the fit wasn't as good as the other jacket with the reason being that my other jacket in sage XL was the previous year's model. For some reason, the red XL newer model fits bigger around the waist, noticeably so. The arms, length, and chest are all perfect but the waist is just too baggy. I'm a 36 waist.