at 01:28 PM
With some jeans it would look fine in my opinion. The sleeves are long for riding a motorcycle, so they look normal to me. Different versions of the perfecto will be more fashion-oriented and less riding-oriented, so that might be worth looking into versus shortening the sleeves.
at 06:00 PM
I think it's a good fit. I wouldn't alter the sleeves just yet. Wear it for a bit. They may effectively shorten a bit once the creases and wrinkles set it.
at 09:59 AM
As previous comments the jacket looks good and as it breaks in will look even better. I too would wait to shorten the sleeves until the jacket has broken in. All motorcycle jackets have longer sleeves for riding and arm are outstreched causing the sleeve to ride up.