Nice execution. We had a similar idea called http://www.pinchthelook.com but for women. The feedback was great and people 'loved' the site but ultimately we couldn't get to a scale where there was enough traffic and clicks to make it worthwhile. Engagement isn't fantastic since it's more of a quick browse and if I like something click away from site.

Perhaps this idea will work better for Men as they probably need a bit more help in piecing together a look (more often than not) ;)